US FOB Gulf soybean basis offers were 10 cents to 15 cents a bushel lower for new-crop loadings on Thursday night with traders citing China buyers taking a breather after the hectic pace over the last two weeks. Corn and wheat basis offers were steady to softer as traders waited for lower futures to generate sales.
FOB September soyabeans were unchanged at 210 cents over CBOT November futures but October was down 15 cents at 175 cents over November futures. November deliveries were down 10 cents at 160 over futures.
USDA's weekly export sales for the week ended July 24 confirmed China's continued heavy buying of soyabeans with 241,000 tonnes booked for old-crop loading before September 1 and 770,000 tonnes booked for new-crop.
FOB corn offers for August and September loading were quoted a nickel lower at 145 cents over CBOT September futures with October/November/December all unchanged at 142 over December.
Weekly export sales of 173,800 tonnes for old-crop were half the four-week average. Net sales for new crop were strong at 1.093 million tonnes.
Corn shipments last week were 865,500 tonnes. China canceled 62,500 tonnes of old-crop corn but shipped 2,300 tonnes of corn last week.
FOB SRW wheat offers were unchanged at 130 cents over CBOT September futures for August and September loading and 145 cents over CBOT December for October shipments.
USDA said 179,100 tonnes of SRW wheat were booked last week and China shipped 6,500 tonnes of the 72,200 tonnes loaded out.
HRW nearby offers for August and September were unchanged, with September at 165 cents over KCBT September futures. But the back months were weaker, reflecting easing rail freight costs, traders said. October was offered 2 cents lower at 183 December futures and October/November were both offered a nickel lower at 190 cents KCBT December.
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