Export premiums for soyabeans shipped from the US Gulf Coast were steady to firmer on Thursday as rising bids for the beans in the river barge market boosted costs for ocean shippers, traders said. Corn export premiums were flat to weaker, tracking lower prices in the barge market following a spike in futures and light corn sales by US farmers. Wheat premiums were mostly unchanged even as hard red winter wheat bids declined for rail shipments to the Texas coast.
Soyabean demand was limited but US supplies were becoming more competitive with Brazilian beans for shipments later this year. Gulf Coast exporters also were short of supplies to meet existing deals, which helped push up prices for barges bound for the Gulf, the traders said. China purchased one US soya cargo for August loading, one trader said.
US soyabean export sales last week totaled 1.932 million tonnes, in line with market expectations, US Department of Agriculture data showed. US corn export sales of 678,600 tonnes also were within pre-report estimates and US wheat sales of 669,500 tonnes were above estimated that ranged from 250,000 to 450,000 tonnes.
FOB Gulf offers for soyabeans loaded in August were around 49 cents a bushel over Chicago Board of Trade August futures, steady to up 1 cent per bushel. August corn offers were about 38 cents above CBOT September futures. Soft red winter wheat offers for August loadings were 55 cents a bushel over CBOT September futures. Premiums for 12 percent protein hard red winter wheat cargoes loaded in August were around 165 cents over September futures.
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