Export premiums for corn and soyabeans shipped out of the US Gulf Coast steadied on Wednesday, holding after recent declines as futures prices fell and demand from international buyers was limited to routine purchases, traders said. US farmers sold large volumes of the crops as futures rose in recent days, replenishing supplies in the CIF barge market and helping push up shipping costs to haul the supplies to the Gulf. Still, the basis for barges of corn had a firm tone, potentially boosting premiums soon in the ocean market, a trader said.
Taiwan's MFIG purchasing group purchased 65,000 tonnes of corn thought likely to be sourced from the United States in a tender, European traders said. Wheat premiums were nominally unchanged, with minimal demand for US wheat that is uncompetitive in global markets. Top global buyer Egypt announced tender seeking wheat for shipment April 25-May 5. Few, if any, US wheat offers were expected in tender results due on Thursday. The US Department of Agriculture will release weekly export sales results early on Thursday.