Export premiums for corn shipped from the US Gulf Coast were steady to firmer on Thursday in tandem with rising CIF barge basis values amid improving demand for July and August shipments, traders said. FOB soyabean basis offers held mostly steady, with demand capped by large supplies of low-cost soyabeans available from South American suppliers.
Traders are monitoring news from Argentina of a port strike in San Lorenzo, where 20 grain ship have been halted. Hard red winter wheat export premiums were nominally higher on tight supplies of high-protein grain, while soft red winter wheat premiums were flat. Soyabean shipments loaded in July were offered about 43 cents a bushel over Chicago Board of Trade July futures.
Corn shipments loaded in July were offered around 36 cents a bushel over CBOT July futures. June soft red winter wheat shipments were about 50 cents a bushel over CBOT July futures. FOB export premiums for 12-percent protein hard red winter wheat at the Texas Gulf for July shipments were 195 cents over July futures. Premiums for 11.5 percent protein wheat were 60 cents below that, traders said.
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