Export premiums for soyabeans shipped from the US Gulf Coast held steady on Friday on solid demand from overseas buyers for near term cargoes and post-harvest shipments amid high prices for South American soyabeans, traders said.
The US Department of Agriculture on Friday confirmed private sales of 263,000 tonnes of US soyabeans to unknown destinations, including 203,000 tonnes for 2015/16 shipment and 60,000 tonnes for 2016/17. It was the fourth soyabean sales announcement this week, with a total of 940,000 tonnes reported sold for the current and next marketing years.
The USDA on Friday lowered its soyabean stocks outlook and raised its US exports view while trimming South American supplies in a monthly report. US Gulf shipments loaded in late June were offered at around 60 cents over CBOT July futures, which closed 2-1/4 cents higher at $11.78-1/4 a bushel. Corn export premiums were unchanged, underpinned by good demand for near term shipments amid limited supplies available from South America.
The USDA increased its US corn export forecast for 2015/16 on Friday as demand has recently spiked amid crop troubles in South America. Wheat premiums were flat on muted demand. June corn shipments were offered at about 70 cents over CBOT July futures, which closed 3-1/2 cents lower at $4.23 a bushel. Spot soft red winter wheat was offered at about 55 cents over CBOT July futures, which closed 15-1/4 cents lower at $4.95 a bushel. Spot hard red winter wheat offers were about 95 cents over July futures, which closed 15-3/4 cents lower at $4.68-1/2 a bushel.