Soyabean export premiums for shipments from the US Gulf Coast were steady to firm on Friday on strong demand from China amid tight supplies from rival exporters in South America, traders said. Importers in China are seeking mostly October through December shipments from the United States, traders said. The US Department of Agriculture (USDA) on Friday confirmed private sales of 498,000 tonnes of US soyabeans to China for delivery in the 2016-17 marketing year.
Over the past eight trading days, the USDA has confirmed 328,000 tonnes in old-crop sales and nearly 2.5 million tonnes in new-crop sales to China and unknown destinations. FOB Gulf corn export premiums held mostly steady on solid demand for US supplies, which are the cheapest of all major exporters, traders said.
A group of Israeli private buyers is seeking up to 110,000 tonnes of optional-origin corn, 55,000 tonnes of feed wheat and 45,000 tonnes of feed barley in a tender closing on Monday. Wheat export premiums were mostly steady on Friday but higher on the week on tight supplies of export grade wheat. South Korean authorities said they have not found any genetically modified wheat in US wheat and flour shipments after an unapproved variety was found on a farm in Washington state. Meanwhile, the USDA said tests on the farm's harvest all came back negative for GMO wheat.
Soyabean export premiums for August shipments were about 107 cents a bushel over CBOT August futures, which closed 13-1/4 cents higher at $10.03-3/4 a bushel. August corn shipments were offered at about 105 cents over CBOT September futures, which closed 3-1/2 cents higher at $3.24-1/4. August soft red winter wheat shipments were about 70 cents over CBOT September futures, which closed 12-3/4 cents higher at $4.16. Spot hard red winter wheat August shipments were offered at about 115 cents over September futures, which closed 6 cents higher at $4.11-3/4.