Soyabean export premiums for shipments from the US Gulf Coast were steady to firm on Wednesday as CIF barge basis values climbed for summertime shipments and beyond and as new-crop futures prices dropped, traders said. Solid demand for deferred soya shipments underpinned the market. The USDA on Wednesday confirmed private sales of 393,000 tonnes of US soyabeans to unknown destinations, with 350,000 tonnes for shipment in the 2015/16 season and 43,000 tonnes for 2016/17. The old-crop sales were believed to be for shipment to Europe in July or August, traders said.
Demand from China was muted. Crush margins there have narrowed and export premiums in Brazil, the source for most of China's recent purchases, have risen. US Gulf Coast corn export premiums were flat on light demand, with many regular US customers well-supplied for their near term needs, traders said. Wheat export premiums were flat on muted demand for US shipments amid ample global supplies. Good crop weather in some key winter wheat production areas also kept a lid on values.
South Korea's Samyang Corp bought 24,000 tonnes of US wheat via a tender, including 5,500 tonnes of HRW wheat. The USDA is scheduled to release weekly export sales data early on Thursday. May offers were around 50 cents a bushel over Chicago Board of Trade May futures, which closed 1-1/4 cents higher at $10.19 a bushel. FOB corn offers for May shipment were 54 cents over CBOT May futures, which ended 1-1/2 cents lower at $3.80-3/4 a bushel.
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