US FOB Gulf wheat offers higher

Export premiums for wheat shipped from the US Gulf Coast were steady to higher on Friday on solid demand for high-protein grain and weather-related loading delays at US ports, traders said. Columbia River lock maintenance work has halted grain barge shipments in the Pacific Northwest and Great Lakes ports have closed for the season, leaving more shipments to be handled by Gulf Coast facilities through March.
Egypt's GASC is seeking cargoes of wheat for February 15-25 shipment via a tender closing on Saturday. GASC's recent purchases have been primarily from the Black Sea region. US wheat was not expected to be competitive due to comparatively higher freight costs.
Corn export premiums were steady to firm, supported by moderate demand and tight near-term export-loading capacity, traders said.
Soyabean export were flat on seasonally slowing demand, with more South American supplies expected to enter the market in the coming weeks and months, traders said.
Soya demand from top importer China has eased this month due to narrowing crush margins and ample supplies following heavy import purchases in November and December, traders said.
The US Department of Agriculture on Friday confirmed private sales of 132,000 tonnes of old-crop US soyabeans to unknown destinations. Traders said the announcement appeared to confirm purchases made by a large Chinese importer for shipment from the Pacific Northwest in March.
Chicago Board of Trade futures markets will be closed on Monday for the Martin Luther King Jr. Day federal holiday.
FOB basis offers for February shipments of soyabeans were 50 cents a bushel above CBOT March futures, which closed 6 cents higher at $10.46-1/4 per bushel.
February corn shipments from the Gulf were offered around 62 cents a bushel over CBOT March futures, which closed 1/4 cent higher at $3.58-1/2 a bushel.
Offers for February soft red winter wheat shipments were about 70 cents over March futures, which closed 1/4 cent lower at $4.26 a bushel.
Spot hard red winter wheat shipments were 125 cents over March futures, which closed 4-1/4 cents higher $4.49 a bushel.