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FOB Gulf Grain - Corn premiums flat-lower on dull demand
May 30, 2012 / 10:13 PM / 6 years ago

FOB Gulf Grain - Corn premiums flat-lower on dull demand

May 30 (Reuters) - Export premiums for corn shipped by barge
to the U.S. Gulf were flat to weaker on Wednesday as dull export
demand pressured the market, traders said.	
    * South American corn currently available at a discount to
U.S. prices so new sales have been minimal. Brazilian corn
offered at a 40 to 60 cent per bushel discount to U.S., traders
said.	
    * Asian feedmakers expected to buy more corn from September
forward and less feed wheat amid an expected record-large corn
harvest. 	
    * CBOT July corn futures shed 3 cents a bushel after
tumbling by 16 cents the prior day. Deferred futures contracts
posted modest gains on worries about hot, dry weather around the
U.S. Midwest corn belt.	
    * Soybean export premiums at the U.S. Gulf were mostly
steady on light to moderate demand, traders said.	
    * Poor Chinese crushing margins limiting demand for imported
soybeans from the world's largest buyer. China's government
grain think tank NCGOIC pegged supplies at Chinese ports up
700,000 tonnes from a month ago, trade sources said.	
    * Wheat export premiums were steady to weak, with pressure
from an advancing harvest in the northern hemisphere.	
    * Iraq issued a tender to buy at least 50,000 tonnes of
wheat, closing on June 12 with offers valid through June 17.
 	
    * Weekly U.S. Department of Agriculture export sales report
delayed until Friday due to a federal holiday on Monday.	
    	
    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 David Gregorio)

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