FOB Gulf Grain-Spot corn premiums hold near historic highs

July 9 (Reuters) - U.S. corn export premiums at the U.S.
Gulf Coast were mostly steady on Monday, with nearby values
holding near historic highs as tight supplies and worries about
drought-reduced production supported values, traders said.
* Lofty U.S. prices and cheaper Brazilian corn keeping a lid
on export demand. Spot shipments offered at around $355 per
tonne FOB U.S. Gulf versus about $295 per tonne FOB Paranagua.
* Talk that up to one million tonnes of Brazilian corn would
be imported into the U.S. East Coast in the last quarter of the
year could not be confirmed.
* Top corn importer Japan in need of 4-5 million tonnes corn
to cover fourth-quarter needs as the recent price rally prompted
a slowdown in purchases. Japan likely to buy corn from the U.S.
and from other suppliers.
* Soybean export premiums at the Gulf were mostly steady,
underpinned by good export prospects as South American
exportable supplies were nearly exhausted and as worries about
drought-reduced U.S. production grew, traders said.
* Spot U.S. soybean futures hit an all-time high on
Monday.
* China had about 50 percent of its soybean import needs
covered for the fourth quarter 2012, but demand for U.S.
soybeans was quiet on Monday. China may have booked some
Brazilian soybeans for shipment in spring 2013, traders said.
* Wheat export premiums at the U.S. Gulf were steady to weak
on Monday amid sluggish demand, with global buyers backing away
from the market due to surging prices.
* Jordan postponed a tender to buy wheat for a second time
as it waits to see how grain markets react to the U.S. Midwest
drought.
* Egypt may stay out of the international wheat market for
the moment after world prices surged in reaction to a U.S.
drought.
* Russian wheat exports not expected to be impacted by
flooding near Novorossiisk port.

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; editing by Carol
Bishopric)