US FOB Gulf grain premiums higher

Export premiums for corn, soyabeans and wheat were steady to higher at the US Gulf Coast on Friday as limited availability for loadings during the next several months underpinned prices despite disappointing weekly sales of each crop, traders said. Loadings were beginning to be booked up through March at Gulf ports in Louisiana and Texas and along the US Pacific Northwest, forcing buyers to pay higher premiums for shipments.
However, the pace of new sales has been slow for weeks, due in part to a seasonal slowdown during the holidays and as global soya buyers started to favour Brazilian soyabeans that will begin flowing to port in the next few months. The US Department of Agriculture earlier reported weekly export sales for the week ended December 29, and sales of soyabeans, corn, wheat and soyameal were marketing-year lows and below analyst expectations.
USDA separately said 100,000 tonnes of hard red winter wheat was sold to unknown buyers, the first daily sale of wheat, corn or soya announced by the agency since December 23. Spot HRW wheat cargoes were offered at 115 cents over K.C. hard winter wheat March futures, unchanged from Thursday. Loadings in February and March were offered at 120 cents over futures, up 10 cents. Offers for January soft red winter wheat shipments were about 65 cents over Chicago Board of Trade March futures. January corn shipments were offered at about 57 cents over Chicago Board of Trade March futures.