Export premiums for hard red winter wheat shipped from the US Gulf Coast remained firm on Tuesday amid expectations that US wheat was priced competitively on the global market, traders said. Major global wheat buyers - including Iraq, Algeria and Jordan have sought global offers for wheat shipments. Iraq's cabinet said it has authorised the trade ministry to make direct purchases of wheat and rice to guarantee food security.

Export offers for corn and soyabeans were mostly flat as supplies at the US Gulf Coast were limited after barge shipments halted when the Mississippi River closed at St. Louis last week, traders said. Hard red winter wheat cargoes at the Texas Gulf for May shipments were offered at about 125 cents over Chicago Board of Trade July futures. That was unchanged from Monday, when offers rose 5 cents.

Soyabean shipments loaded in May were offered around 42 cents a bushel over Chicago Board of Trade July futures. FOB corn basis offers for May shipments were about 40 cents a bushel above CBOT July futures. May soft red winter wheat shipments were offered about 52 cents a bushel over CBOT July futures.

Copyright Reuters, 2017