Export premiums for soyabeans shipped from the US Gulf Coast were flat to weaker on Wednesday, tracking declines in CIF barge basis values on light demand, traders said. Flooding in China has slowed demand for soyameal and limited its demand for imported soyabeans, traders said. FOB Gulf corn basis offers were mostly steady as recent futures price declines have spurred demand from some importers such as South Korea.
A trucker strike in Argentina has paralysed grain deliveries to export terminals this week. Only 125 trucks arrived at Rosario overnight Wednesday, compared with 7,275 trucks in the same time a week earlier. Two South Korean feed importers bought optional-origin corn via tenders on Wednesday after benchmark US corn futures slid moore than 3 percent on Tuesday Wheat export premiums at the Gulf were unchanged.
Weekly export sales data due on Thursday is expected to show that net old-crop corn sales declined last week while soyabean sales were seen steady to higher, according to analysts polled by Reuters. August corn shipments were offered at about 105 cents over CBOT September futures, which closed 4-1/4 cents lower at $3.37-1/2 a bushel.