US FOB Gulf soya offers mostly steady

Export premiums for soyabeans shipped from the US Gulf Coast were mostly steady on Friday, capped by light demand but underpinned by slow arrival of supplies via barge amid flooding on the Mississippi River, traders said.
-- Corn export premiums were steady to weak on sluggish demand for US supplies.
-- Soft red winter wheat premiums were unchanged in quiet trade while hard red winter wheat premiums edged up as CIF basis values rose.
-- Chinese soyabean importers bought several spot cargoes of US soyabeans this week for shipment from the Pacific Northwest as Gulf prices are elevated due to flood-related supply disruptions. The importers are also focusing on February and March shipments from Brazil, making several purchases for that shipping time frame this week.
-- The Illinois River reopened to navigation on Friday, but the Coast Guard is recommending daylight only navigation because water remains high and currents are strong.
-- Shippers are loading barges again in the St. Louis area after high water had restricted loadings for more than a week. Some shippers were taking in soyabeans delivered by train and loading barges.
-- The Mississippi River is forecast to crest at Memphis, Tennessee, on Friday and in Arkansas over the weekend. Peak floodwaters are expected to reach Baton Rouge, Louisiana, a week from Monday.
-- China will import 80 million tonnes of soyabeans in the 2015/16 (Oct/Sep) marketing year, up 2 million tonnes from the prior season, the country's official CNGOIC think tank forecast.
-- Brazilian farmers asked their country to file a complaint against the United States with the WTO over US farm subsidies.
-- Chicago Board of Trade futures climbed on Friday in a short-covering bounce ahead of the US Department of Agriculture's January reports, scheduled for release on Tuesday.
-- FOB Gulf soyabeans loaded in late January were lightly offered at about 87 cents a bushel over CBOT March futures, which closed 3/4 cent higher at $8.65-1/4 a bushel.
-- January corn offers were around 62 cents over CBOT March futures, which ended 4 cents higher at $3.57 a bushel.
-- January shipments of soft red winter wheat at the Gulf were offered at about 67 cents over CBOT March futures, which closed 10 cents higher at $4.78-1/2 a bushel.
-- January hard red winter wheat offers were about 115 cents over March futures, which closed a 10 cents higher $4.72-3/4 a bushel.