Export premiums for soyabeans were steady to firm at the US Gulf Coast on Thursday, supported by better demand, especially for shipments during the fall harvest season, traders said. Corn and wheat premiums held mostly steady in slow trading. Demand for corn has eased after a surge in interest in the wake of last week's record decline in corn futures.
Egypt's GASC bought 180,000 tonnes of Russian wheat for August 1-10 shipment on a free on board basis, the main government wheat buyer said on Thursday. The move expected by many traders as Black Sea wheat is priced at a discount to supplies from France and the United States.
China was said to have bought two cargoes of South American soyabeans even as US supplies were priced nearly equal to those in Argentina and Brazil. USDA early Thursday said exporters sold 540,000 tonnes of US corn to China for delivery during the 2011/12 marketing year and 300,000 tonnes of US corn to unknown destinations. USDA will release weekly export sales early on Friday, a day later than normal due to Monday's US Independence Day holiday.
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