Bids for wheat barges headed to the US Gulf firmed on Friday, supported by fresh export demand for US supplies, traders said. CIF bids for corn also firmed while soyabean bids eased slightly after rising earlier this week.
The US Agriculture Department on Friday said that private exporters reported the sale of 130,000 tonnes of soft red winter wheat for delivery to unknown destinations during the 2017-18 marketing year. On the FOB market, corn and wheat offers were mostly flat while soyabean offers firmed for January shipments, traders said.
A grain dealer said that soyabean barges scheduled for loading in the last half of December traded at 36 cents over Chicago Board of Trade January soyabean futures contract, up 3 cents from Thursday. January loadings traded at 38 cents over CBOT January and February loadings at 35 cents over CBOT March. Barges for loading in June or July traded at 33 cents over CBOT July. Soya barges loaded in the last half of December were bid at 31 cents over CBOT January soyabean futures, 2 cents lower than Thursday. January soyabean ocean shipments from the Gulf were offered at 47 cents over futures, up about 3 cents from Thursday.
CIF bids for corn barges for first-half December delivery were bid at 21 cents over CBOT March futures, up 1 cent from Thursday. Offers for Gulf export shipments were unchanged at 48 cents over CBOT March. Bids for soft red winter wheat barges shipped in December rose 5 cents to 50 cents per bushel over CBOT March futures while export offers held at 65 cents over futures.
December CIF HRW wheat bids were unchanged at 225 cents over the K.C. March contract for 12 percent protein grain. Export offers were about 245 cents over futures but traders said that was a nominal quote as the market was thinly traded.
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