Soyabean export premiums for shipments from the US Gulf Coast firmed on Wednesday in tandem with higher CIF barge basis values as demand for late-summer US cargoes increased amid rising prices in South America, traders said. One to three cargoes of US Gulf soyabeans were booked on Wednesday for shipment in August, traders said. The June through August CIF soyabean barge basis bids jumped by 4 to 5 cents per bushel on Wednesday afternoon on the increase in demand.
Offers for Brazilian and Argentine soyabean shipments in August and September are up sharply from last week, traders said. The South American export surplus has thinned because of record Brazilian export shipments earlier in the season and weather-related crop losses in Argentina, they said.