FOB Gulf Grain-Corn, soybeans steady-firm hold as futures slip

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Nov 15 (Reuters) - Corn and soybean export premiums at the
U.S. Gulf Coast were mostly steady to firm on Friday amid weaker
futures and limited available capacity to load export shipments
through the end of 2013, traders said.
* Soybean futures on the Chicago Board of Trade fell
2.5 percent on softening cash markets and good South American
crop weather. Corn slipped as the U.S. government proposed
easing ethanol blend requirements.
* FOB basis offers were unquoted for November and much of
December after heavy forward sales earlier this year for those

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shipping periods. However, November and December loadings would
be available at a hefty premium if a buyer was willing to pay,
traders said.
* U.S. corn prices were competitive on the world market for
early 2014 shipments and traditional buyers have been booking
their routine purchases to lock in some of the lowest prices in
three years.
* China will continue buying buy soybeans and corn for state
reserves from farmers this year, a move that is expected to keep
domestic prices higher than the global market, triggering more
imports.
* Record-large purchases of U.S. soybeans by China are
on the books. Good growing weather in South America raised the
risk that a larger-than-normal share of outstanding sales could
be switched to Brazil or Argentina origin beans, traders said.
* U.S. wheat export premiums at the Gulf Coast held steady
in quiet trade.

* European wheat prices were undercutting U.S. wheat into
key markets in the Middle East and North Africa, but U.S. prices
have grown increasingly competitive in recent weeks.
* Benchmark CBOT soft red winter wheat futures fell
for a two-month low on Friday and posted its fourth straight
weekly decline.

(Reporting by Karl Plume in Chicago, editing by G Crosse)