Export premiums for soyabeans shipped from the US Gulf Coast were mostly steady on Monday, underpinned by solid demand amid limited available supplies from rival exporters in South America, traders said. Importers in China are filling their soyabean needs for mostly October through December shipments, traders said.
The US Department of Agriculture on Monday confirmed private sales of 120,000 tonnes of US soyabeans to unknown destinations for shipment in the 2016/17 marketing year. It was the latest of a string of large US soyabean export sales since late July. Corn export premiums were unchanged as support from moderate demand was largely offset by pressure from abundant supplies oof corn and other feed grains US wheat export premiums were flat, with prices anchored by plentiful world supplies of low-cost grain. Egypt's wheat buyer GASC set a tender to buy an unspecified amount of wheat from global suppliers for shipment from September 21-30. Results are expected Tuesday.
US wheat is not expected to be competitively offered in the GASC tender as Black Sea wheat is available at lower prices and lower shipping costs, traders said. FOB basis offers for last-half September loadings were about 140 cents a bushel over CBOT November futures, which closed 11-1/4 cents higher at $10.15-3/4 a bushel. Last-half September corn shipments were offered at about 95 cents over CBOT September futures, which closed 1 cent lower at $3.33-1/4.
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