US FOB Gulf corn and soyabean basis offers were steady on Wednesday amid thin export demand as buyers waited for a break in prices, dealers said.
Old crop soft red winter wheat was higher amid talk of sales to Mexico Hard red winter wheat was steady.
Dealers said there was steady demand from Central America for corn, but added that overall interest was sluggish as priced soared this week to 6-1/2 year highs.
"It's been quiet lately," one dealer said, adding that farmer selling of old crop supplies has slowed.
"Farmers are pretty bullish, and they might sell if there is a nickel increase in prices," the dealer said. "They have already sold a large quantity of their old-crop supplies."
The dealer added that he has been buying a "fair amount" of new-crop corn as farmers lock in prices for the crop they will be harvesting from September.
Another dealer said there was continued talk of China selling corn to Japan, which first emerged on Tuesday.
The dealer said a Japanese trading house was said to have bought 10,000 tonnes for March shipment at $175 per tonne FOB.
On Tuesday, traders in Asia reported the sale of an unspecified amount of Chinese corn to Japan at $175 FOB.
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