Export premiums for corn, soyabeans and wheat shipped from the US Gulf Coast were about unchanged on Wednesday amid relatively routine demand and sufficient supplies, traders said. Top soya importer China inquired about a cargo of soyabeans shipped in February out of the US Pacific Northwest but it was unknown if the deal was executed, one trader said.

China and other importers were turning attention to South America, where ample soya and corn supplies were likely to be available in the next few months, stealing away potential business from US exporters. Traders awaited results from wheat tenders issued by Algeria and Ethiopia, with each nation expected to buy large volumes of milling-grade wheat.

Offers for January soft red winter wheat shipments were about 65 cents over Chicago Board of Trade March futures, stabilising after easing earlier this week. Spot hard red winter wheat cargoes were offered at 115 cents over K.C. hard winter wheat March futures. January corn shipments were offered at about 58 cents over CBOT March futures. January US soyabean shipments were offered at 60 cents a bushel over CBOT January futures.

Copyright Reuters, 2017