FOB Gulf Grain-Corn premiums steady-firm, soy mostly steady

June 12 (Reuters) - U.S. corn export premiums at the Gulf
Coast were steady to firm on Tuesday, with nearby values rising
along with the moderately higher CIF basis, as tight supplies
underpinned values, traders said.
* Export demand was sluggish as U.S. prices were not
competitive on the world market for nearby shipments.
* Brazilian corn for July shipment offered at about $235 per
tonne FOB Paranagua while U.S. Gulf corn for that period offered
at about $268 per tonnes FOB, Reuters data showed.
* U.S. Department of Agriculture on Tuesday lowered its U.S.
corn export forecast for the 2011/12 marketing year by 50
million bushels to 1.65 billion bushels. USDA offset the cut by
raising corn to ethanol, leaving ending stocks unchanged from
the prior month.
* Soybean export premiums at the U.S. Gulf were mostly
steady amid a lull in export demand, traders said.
* An Argentine farmer strike was set to end on Tuesday.
Farmers halted grain sales in the week-long strike, but export
shipments were not impacted.

WHEAT
* U.S. Gulf export premiums were firm for hard red winter
wheat and about steady for soft red winter wheat, traders said.
* Solid demand for HRW wheat and a lack of new grain
movement supported the basis, sending CIF and FOB values up as
much as 5 cents. Wide futures market carries encouraging farmers
to store any excess wheat, while export demand has been good.
* Asian importers turning to the United States for cheaper
milling wheat, threatening to slow Australian wheat exports that
have been running at a near-record pace.
* South Korea's DongA One Corporation bought 23,800 tonnes
U.S. milling wheat via a tender, traders said.
* Taiwan millers seeking 47,080 tonnes U.S. wheat via a
tender closing Thursday. Japan seeking 147,118
tonnes food wheat from the U.S. and Australia via a tender
closing on Thursday.
* Other outstanding tenders include Iraq,
Ethiopia, and Jordan.
* China expected to more than double imports of wheat this
year as domestic production dwindles under weather and disease,
analysts said.

To check displays of FOB basis, click on following:
U.S. FOB Gulf corn
U.S. FOB Gulf soybeans
U.S. FOB Gulf SRW wheat
U.S. FOB Gulf HRW wheat

LINKS
* FOB U.S. Gulf Grain
* U.S. grain export summary
* Brazil soybean export prices
* Brazil corn export prices
* Argentine grain prices
* Russian grain prices

(Reporting by Karl Plume in Chicago)