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Cash basis values for soyabeans at US Gulf Coast export terminals were mostly firmer on Thursday on accelerating export demand and limited farmer sales following a recent drop in futures prices, traders said. US soyabean export sales topped trade expectations last week and are expected to remain strong as US prices are more than $10 per tonne below Brazilian prices, on a free-on-board basis.
Chicago Board of Trade new-crop soyabean futures rose nearly 1 percent after hitting a 1-1/2-month low on Wednesday. The recent price drop kept a lid on farmer sales to river elevators that supply the export market, traders said. The US Department of Agriculture on Thursday confirmed private sales of 165,000 tonnes of optional-origin soyabeans to China for 2017-18 shipment.
CIF soyabean barges loaded in August traded at 58 cents a bushel over CBOT November futures, up 3 cents from trades on Wednesday and the highest spot CIF basis since last September, according to Reuters data. Spot FOB offers for soyabeans were 68 cents over CBOT November futures.
Cash corn premiums at the Gulf were steady to firmer, while wheat premiums were mostly unchanged. August CIF corn barges were bid a penny higher at 33 cents above the CBOT September contract. Spot corn FOB offers were 50 cents over CBOT September futures.
CIF HRW wheat bids held at 145 cents over the K.C. September contract for spot shipments while SRW wheat bids were 35 cents over CBOT September futures. FOB offers for spot SRW wheat shipments were 60 cents over futures while HRW wheat spot FOB offers were 160 cents over K.C. September wheat futures.

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