US FOB Gulf corn premiums lower

Export premiums for corn shipped from the US Gulf Coast were 2 to 6 cents per bushel lower on Monday, pressured by ample supplies and cheaper offerings out of Argentina and Brazil, traders said. US exporters slashed their prices in efforts to become more competitive in global markets. January corn offers were down 3 cents at 55 cents per bushel over Chicago Board of Trade March futures.
But recent stepped up farmer selling in Argentina has weighed on corn prices there, with Argentine corn as much as $10 per tonne less than US corn, the traders said. Premiums for soyabeans and wheat held mostly steady as dealings of all three commodities remained muted during the holiday season, when many traders were away. FOB Gulf soyabeans for January were offered at about 75 cents a bushel over CBOT January futures. January shipments of soft red winter wheat at the Gulf were offered at about 75 cents over CBOT March futures. January hard red winter wheat offers from the Texas Gulf were about 114 cents over March futures.