Export demand helped keep premiums for soyabeans and corn shipped from the US Gulf Coast mostly steady on Wednesday, traders said. Egypt's General Authority for Supply Commodities (GASC) set a tender to buy an unspecified amount of wheat from global suppliers for shipment from February 1-10.

The United States has faced stiff competition for wheat export business from other countries with ample supplies. In its last tender on December 20, Egypt, the world's top wheat importer, bought 360,000 tonnes of Russian, Argentine and Romanian wheat.

January corn shipments were offered at about 56 cents over CBOT March futures, down 2 cents from Tuesday. January US soyabean shipments were offered at about 58 cents a bushel over CBOT January futures, flat from Tuesday. Offers for January soft red winter wheat shipments were about 70 cents over CBOT March futures, flat from Friday. Spot hard red winter wheat cargoes were offered at 115 cents over March futures, steady from Friday.

Copyright Reuters, 2016