FOB Gulf Grain-Corn premiums hold steady while futures jump

Nov 11 (Reuters) - Export premiums for corn at the U.S. Gulf
Coast held mostly steady on Monday amid light demand as futures
values rose by nearly 2 percent, traders said.
    * Wheat and soybean export premiums were also unchanged in
quiet trade.
    * FOB basis offers for corn, soy and wheat shipments in
November and much of December were unquoted as Gulf export
facilities have little to no loading capacity available
following big forward sales earlier this year.
    * U.S. corn remained competitively priced on the world
market for January through March shipments. Mexican importers
	
made price inquiries for that period on Monday, traders said. * Corn futures on the Chicago Board of Trade jumped nearly 2 percent, the sharpest rise since August. The price increase triggered moderate farmer selling, which helped replenish somewhat the grain marketing pipeline. * Soybean demand was light. Chinese importers' U.S. soybean needs have been filled for the near term and they have been eyeing early 2014 shipments. * The U.S. Department of Agriculture did not release weekly export inspections or crop progress and condition reports on Monday as the government was closed for the Veterans Day federal holiday. (Reporting by Karl Plume in Chicago, editing by G Crosse)

About the author

Comments

explore

Stories from our other publications