US corn export premiums at the Gulf of Mexico were steady to firm on Friday amid steady demand aided by sinking prices, while soyabean and wheat export premiums were about steady, traders said. Nearby soyabean demand slowing in favour of new-crop soya, with good interest noted for late September shipments.
Some lingering demand for old-crop beans remains, but freight advantage of shipments from Pacific Northwest limited demand for shipments from the Gulf. Old-crop soyabean export premiums steady to down 5 cents a bushel from a week ago, new-crop steady to up 3 cents. Corn export premiums underpinned by steady yet solid demand from overseas buyers and lack of available supplies from other origins.
South Korea's Nonghyup buys 110,000 tonnes US corn, passes on cargoes of 110,000 tonnes corn and 55,000 tonnes feed wheat, traders said. Corn premiums down 1 to 3 cents a bushel from a week ago amid some weakness in the CIF barge market following an increase in grain movement this week, traders said.
Corn export prospects bright as futures hit a 7-1/2 month low this week and the US dollar remains weak. Wheat export premiums were flat, with a weak tone stemming from dull export demand and abundant global supplies. Brazil's top wheat-growing state, Parana, could reap a record 3.37 million-tonne harvest this year if favourable weather continues, state officials said.
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