Light demand kept US soyabean and corn export premiums unchanged to weaker at the Gulf Coast on Thursday, traders said. Wheat offers were mostly steady. Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said it bought 240,000 tonnes of Russian and Romanian wheat in a tender for November 21-30 shipment.
There were no offers in the tender for US wheat, which has been considered too expensive to compete on the global export market against grain from the Black Sea region and Europe. Farm office FranceAgriMer raised its forecasts for French soft wheat exports outside the European Union and pegged production at a new record high.
US soyabeans continue to face competition from South America on the export market. FOB Gulf soyabean basis offers for last-half October loadings were around 100 cents over CBOT November futures, down a penny from Wednesday, traders said. FOB Gulf corn basis offers for November were 68 cents a bushel over CBOT December futures, down a penny from Wednesday. November soft red winter wheat offers were flat at 85 cents over December futures, and spot hard red winter wheat offers were flat at about 105 cents over December futures.
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