US Gulf FOB corn basis offers were steady on Tuesday, while soyabeans were higher as exporters sought supplies to load vessels.
Dealers said hard red winter wheat basis offers were higher as the United Nations' World Food Programme set an international tender to buy 630,000 tonnes of hard milling quality wheat for Iraq.
The wheat is scheduled for shipment in two cargoes of 315,000 tonnes each, from May 1 to May 31, and June 1 to June 30, according to tender documents.
The tender closes on March 23, and exporters from the United States, Australia, Canada and Argentina are among those expected to take part, dealers said.
Earlier in the day, USDA reported the sale of 110,000 tonnes of US hard red winter wheat to Iraq through a tender set by WFP two weeks ago to buy a total of 450,000 tonnes.
Dealers were confident that the United States would be able to win a slice of the WFP tender.
Soybean basis offers were higher as exporters sought supplies to fill vessels at the Gulf. Fresh export demand however was thin amid another rally in CBOT futures.
"There's no new demand. Exporters however are looking for beans for their boats that will be coming in for loading," one dealer said, adding that farmer selling was slow.
FOB corn basis offers were steady, but values in the CIF barge market were weaker following a pick up in farmer selling following Monday's CBOT rally, dealers said.
South Korea bought 20,000 to 25,000 tonnes of optional-origin corn in a private deal last week, traders in Asia said overnight. The cargo was priced at $178.80 per tonne C&F and could be sourced from China or India, they said.
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