Export premiums for corn shipped from the US Gulf Coast were mostly steady to lower on Friday on light demand and ample supplies, with an accelerating South American harvest pressuring near-term cargoes, traders said. FOB soyabean premiums were weaker in old-crop shipping periods, mirroring late-week declines in CIF barge basis values, and mostly steady in new-crop months.

Export premiums for soft red winter wheat were flat on quiet demand. Hard red winter wheat premiums were steady to firm, supported by good demand and tight supplies of high-protein milling wheat. Turkey's state grain agency TMO is seeking up to 180,000 tonnes of feed corn via a tender closing next week, traders said. Iraq remains in talks to buy at least 50,000 tonnes of wheat via a tender. Both tenders sought grain from various origins.

FOB corn basis offers for late May shipments were about 40 cents a bushel above Chicago Board of Trade July futures. New-crop premiums fell by a penny. Soyabean shipments loaded in May were unquoted. June loadings were offered around 42 cents a bushel over CBOT July futures. June SRW wheat shipments were offered about 54 cents a bushel over CBOT July futures. HRW wheat cargoes at the Texas Gulf for June shipments were offered at about 125 cents over Chicago Board of Trade July futures.

Copyright Reuters, 2017