Soyabean export premiums at the US Gulf Coast were mostly unchanged on Tuesday amid routine demand, while corn premiums were steady with a firm tone, traders said. Nearby premiums were unquoted as November and December loading capacity at the Gulf was effectively sold out. Top soyabean importer China was in the market for January and February shipments, including from Brazil, whose harvest normally begins by February.
Newly planted soyabean crops are off to a good start in Brazil and Argentina, analysts said. US corn prices are competitive on the world market for early 2014 shipments. Benchmark Chicago Board of Trade corn futures fell to a fresh three-year low on Monday before rebounding on Tuesday. Chinese importers booked 240,000 tonnes of US soyabeans for 2014-15 marketing year shipment, the US Department of Agriculture confirmed on Tuesday. US wheat export premiums were flat in quiet trade. Egypt's GASC bought 120,000 tonnes of Russian wheat via a tender on Tuesday for December 11-20 shipment.