Soyabean export premiums at the US Gulf Coast were flat to lower on Friday, pressured by sinking South American premiums and seasonally slow demand for US beans, traders said. Nearby CIF soyabean basis bids were very thin as buying interest was minimal due to little export demand at the Gulf. FOB basis offers were steady to off 5 cents per bushel, although tight old-crop supplies prevented further weakness.
Export premiums at Brazil's Paranagua port were 4 to 9 cents per bushel lower for March through July shipments. Falling prices attracted demand despite lengthy loading delays. Chinese importers bought at least three Brazilian cargoes for July shipment, a trader said.
USDA on Friday confirmed private sales of 165,000 tonnes US soyabeans to China for 2013/14 delivery. Corn export premiums at the Gulf were quietly steady amid sluggish demand for old-crop supplies and a slowdown in new-crop demand following active sales in recent weeks to private importers in China, traders said.
Japan aiming to increase feed wheat imports to 1.07 million tonnes in the year ended March 2014, up from a record 900,000 tonnes the previous year. That could reduce demand for US corn from the world's top importer. Wheat export premiums at the Gulf Coast were steady with a firm tone on good near term export prospects as US wheat is among the least expensive in the world. But the export window is narrow as lower-cost suppliers were expected to have wheat to sell from early summer.
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