FOB Gulf Grain-Corn offers hold amid demand for spring shipments

Dec 13 (Reuters) - Corn export premiums at the U.S. Gulf
Coast held mostly steady on Friday, underpinned by tight nearby
loading capacity and moderate demand for early spring shipments,
traders said.
    * U.S. Gulf loading capacity was effectively sold out for
December and January. 
    * Some Latin American importers, including Venezuela, were
in the market for U.S. corn shipped in March and April.
    * Demand from Asian importers was muted on Friday amid
uncertainty about how much U.S. corn may be ultimately rejected
by China, traders said. At least four cargoes have already been
rejected, and other importers were awaiting further rejections in hopes of buying the distressed cargoes at a discount. * Traders said some of the roughly 2 million tonnes of U.S. corn sailing to China could be resold to other Asian buyers before reaching the continent. * Wheat export premiums were mostly steady amid light to moderate demand. * U.S. soft red winter wheat prices were among the cheapest in the world market, but limited Gulf capacity to load nearby export shipments due to heavy corn and soybean exports has kept wheat sales light. * Hard red winter wheat premiums were supported by scattered demand, including from Brazil, which has purchased heavy supplies this season. Brazil booked at least one cargo of the grain this week as exports from Argentina, its top supplier, may not resume until February or later, a trader said. * Soybean export premiums were flat in quiet trade. (Reporting by Karl Plume in Chicago; Editing by Jan Paschal)

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