US corn export premiums at the Gulf Coast were flat on Friday and lower in the week on sluggish export demand, traders said. High corn prices and strong competition from alternative feed grains such as feed wheat kept a lid on demand for US corn, traders said. Corn export sales hit a one-month low last week.
US wheat export premiums were flat on Friday, capped by dull demand for US grain amid aggressive competition from low cost Black Sea suppliers, traders said. Egypt's GASC satisfied with Russian wheat quality after delegation visited its former top supplier. GASC also gauging whether it could add Ukraine and Romania to its list of approved suppliers.
Return of lower cost Black Sea suppliers to the world wheat market were seen diminishing demand for US wheat. Taiwan Millers Association passed on a tender for 65,880 tonnes US wheat for September shipment. Other outstanding tenders appear to favour Black Sea wheat, including tenders from Jordan and Syria. US wheat has a chance in a tender by Iraq. But some traders say Black Sea wheat could compete for that business as well.
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