Export premiums for soft red winter wheat at the US Gulf Coast were mostly steady with a firm tone on Friday on slow grain movement and slightly improved export demand, traders said. Hard red winter wheat export premiums were unchanged, with values underpinned by tight supplies in export channels as strong domestic miller demand diverted supplies from the export market where demand was limited, traders said.
Mexico bought about 50,000 tonnes of US SRW wheat this week for use as feed as corn prices were at a premium to wheat, a trader said. The country has already booked more than 825,000 tonnes in the marketing year to date, more than double the volume at the same point last year, USDA data showed. Japan bought 78,050 tonnes US wheat via a regular weekly tender.
US corn export premiums at the Gulf Coast were mostly steady on Friday and up about 5 cents on the week, supported by tight supplies in the export market due to slow farmer selling, traders said. Algeria's ONAB launched a tender to buy two cargoes of 25,000 tonnes each of optional-origin corn for December 10-25 shipment.