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FOB Gulf Grain-SRW wheat, soybean premiums firm on good demand
April 5, 2012 / 9:17 PM / 5 years ago

FOB Gulf Grain-SRW wheat, soybean premiums firm on good demand

April 5 (Reuters) - Export premiums for soft red winter
wheat at the U.S. Gulf Coast were steady to firm on Thursday,
supported by strong demand and tight old-crop supplies in the
export pipeline, traders said.	
    * Egypt's GASC bought 115,000 tonnes of U.S. SRW wheat via a
tender on Thursday for May 21-31 shipment. One cargo was for
Gulf shipment, one for East Coast. 	
    * SRW supplies in the export pipeline were tight so Gulf
exporters bid aggressively in the CIF market for old-crop grain
to fill foreign demand, including talk of sales to Spain under
the tariff-rate quota system, traders said.	
    * Nearby CIF SRW barges traded as high as 70 cents a bushel
over CBOT May futures, up about 10 cents this week,
traders said.	
    * Export premiums for hard red winter wheat declined amid
slow export demand ahead of an expected large new-crop harvest.	
    * U.S. HRW may have difficulty trading to Iraq in its latest
tender that closes on April 15. Canadian wheat
likely to be offered aggressively in the tender, seen as among
the last Iraqi tenders before the Canadian Wheat Board loses its
marketing monopoly later this year.	
    * Private exporters sold 138,900 tonnes of U.S. wheat to
unknown destinations for 2012/13 marketing year delivery, USDA
said. Traders said the sales were to Guatemala,
El Salvador and Panama.	
    * Taiwan Flour Millers' Association bought 41,650 tonnes of
U.S. milling wheat in a tender. 	
    	
    SOYBEANS, CORN	
    * Soybean export premiums at the U.S. Gulf Coast were firm,
rising in tandem with the higher CIF barge market, amid strong
demand prospects due to a drought-shortened South American crop.	
    * China bought one U.S. Gulf soybean cargo for September
shipment on Thursday and several Brazilian cargoes for spring
2013 shipment, traders said.	
    * Taiwan's BSPA-K bought 60,000 tonnes of Brazilian soybeans
for May shipment. 	
    * A grain ship that grounded on a river near Rosario port in
Argentina and delayed passage of at least 85 ships was dislodged
on Thursday. 	
    * U.S. Gulf corn export premiums held steady, underpinned by
moderate demand and tight old-crop supplies, traders said.	
    * Export sales of U.S. corn rose to a 5-1/2-month high last
week as prices fell to two-month lows, weekly USDA data showed.
The tally included 394,000 tonnes to China, the most to that
country since October.	
    * U.S. markets closed April 6 for the Good Friday holiday.	
    	
    To check displays of FOB basis, click on following:	
    U.S. FOB Gulf corn 	
    U.S. FOB Gulf soybeans 	
    U.S. FOB Gulf SRW wheat 	
    U.S. FOB Gulf HRW wheat 	
    	
    LINKS 	
    * FOB U.S. Gulf Grain                   	
    * U.S. grain export summary             	
    * Brazil soybean export prices          	
    * Brazil corn export prices             	
    * Argentine grain prices                	
    * Russian grain prices                  	
	
 (Reporting by Karl Plume in Chicago; Editing by Dale Hudson)

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