Export premiums for US soyabeans at the Gulf of Mexico rose on Friday due to renewed buying interest from China, traders said. The higher values came even as farmers were making heavy deliveries of soyabeans to river elevators around the Midwest. Corn export premiums held steady on Friday.
FOB offers for soft red winter wheat rose sharply as recent weakness in the futures market has made prices for US supplies more attractive. Soft red winter wheat futures dropped 3 percent at the Chicago Board of Trade on Friday. Hard red winter wheat FOB offers were unchanged. Many FOB traders were not offering any corn for sale in November and December because they were fully booked. Corn supplies were still relatively light.
Harvest delays are hurting barge companies that are normally swamped with orders to move corn and soyabeans down rivers during the fall, analysts and barge operators said. Dry weather this week has allowed farmers to make good progress in the fields but growers were still well behind schedule. Dealers said that many farmers were harvesting soyabeans first before turning their attention to corn, which still had to dry out before it could be delivered to processors and elevators.