Soyabean export premiums at the US Gulf Coast were steady to firm on Friday, underpinned by good demand from top importer China and others, traders said. Nearby soyabean basis offers were unquoted as loading capacity at Gulf terminals was largely sold out through November. Deferred values were well supported by a steady pace of demand for US supplies. Few South American offers were available.
The US Department of Agriculture on Friday confirmed private sales of 120,000 tonnes of US soyabeans to China and 120,000 tonnes to Taiwan, both for 2013/14 shipment. Chinese importers booked at least two more cargoes of US Gulf soyabeans on Friday for shipment in early 2014, a trader said. Corn and wheat export premiums at the Gulf were unchanged amid routine demand and sluggish movement of supplies from farms in the interior of the country to export points.
Offers for October and November shipments of corn and wheat from the Gulf were not well established because loading capacity was effectively sold out. Basis values for CIF corn barges loaded this month and shipped to the Gulf spiked 6 cents a bushel on Friday to 77 cents over Chicago Board of Trade December.
Comments
Comments are closed.