CHICAGO: Export premiums for corn shipped from the US Gulf Coast were mostly steady with a firm tone on Friday, supported by solid demand as US shipments are competitively priced on the global market, traders said.

Soyabean export premiums were flat to lower on seasonally slowing demand. Buyers in China have booked at least 15 cargoes of Brazilian soyabeans this week, traders said.

Weakening currencies in Brazil and Argentina stoked more farmer selling of soyabeans on Friday, which weighed on prices there and further dampened US export hopes for the coming months.

Wheat premiums were also steady to lower amid sluggish demand for US supplies, with rival global suppliers offering grain at lower prices.

Dealings were generally light on Friday as many dealers were attending an industry gathering in New Orleans.

Egypt’s GASC bought 240,000 tonnes of Russian and French wheat via a tender on Friday after receiving offers from just four trading houses.

GASC also said it is no longer in talks with Bunge about replacing a shipment of French wheat rejected over ergot fungus.

FOB Gulf soyabeans loaded in early March were offered at 70 cents a bushel over CBOT March futures, which closed 1-1/2 cents lower at $8.78-1/4 a bushel.

Corn offers for March shipment were around 56 cents over CBOT March futures, which ended unchanged at $3.65-1/2 a bushel.

March shipments of soft red winter wheat at the Gulf were offered at about 65 cents over CBOT March futures, which closed 1/2 cent lower at $4.61-3/4 a bushel.

Spot hard red winter wheat offers were about 105 cents over March futures, which closed 3-3/4 cents higher at $4.57 a bushel.—Reuters