FOB Gulf HRW wheat falls, soya steady, corn up

US FOB Gulf hard red winter wheat basis offers fell on Thursday due to a lack of export demand and freshly harvested supplies entering the market, traders said.
Soft wheat and soyabean offers held steady, while corn was higher due to strong export sales.
Export premiums for hard wheat dipped 3 to 5 cents a bushel for June and July shipment and fell a penny for deferred periods, traders said.
The drop in wheat premiums follows declines in the track market, which supplies export elevators at the Gulf. Bids in the rail market backed off as offers became more aggressive, traders said.
"It's just a lack of business and harvest is here," said a wheat trader. "Any small amount of bushels that gets pushed out there has no home."
Traders pointed to the low purchase price paid by CCC for 8,300 tonnes of HRW wheat for Haiti as a further sign of weakness in the market.
The US agency paid $205.23 per tonne FOB with loading in the last half of June in Houston, Texas. The price represents a 71 cent a bushel premium to KCBT July, compared with quoted export offers of 75 cents.
"That's a sign that people are hurting for some business," said another wheat trader.
Soft red winter wheat offers were steady at 15 cents a bushel premium to CBOT July for June and July shipment. SRW wheat from the US Atlantic coast was offered at option to the July contract, traders said.
US traders said Canadian wheat was offered at 5 cents a bushel discount.
Farmers across the Midwest were pushing ahead with seeding their soyabean crops under mostly favourable weather, having finished planting corn.
Farmers in Indiana were replanting soyabeans after rains flooded fields.
Corn offers were steady to higher, supported by brisk export demand. Traders noted they have not seen many fresh inquiries in the past few days.
South Korea bought 110,000 tonnes of non-GMO US corn from Cargill Inc for September/October arrival. The corn market continues to watch for further inquiries from China, which booked its first major purchase of US corn in years last week.