Soyabean export premiums for shipments from the US Gulf Coast held mostly steady on Wednesday, underpinned by good demand from top importer China, which has steadily booked large purchases from the United States in recent weeks, traders said. New-crop CIF soyabean barge basis values eased from highs earlier this week, but nearby premiums remained firm, traders said.
Corn export premiums were also about steady on solid demand as US shipments are competitively priced on the world market.
Wheat export premiums were unchanged. The US Department of Agriculture did not announce any fresh US soyabean sales via its daily reporting system on Wednesday after two straight weeks of daily announcements. Still, traders said demand from China remained robust as the importers there need bookings for mostly October and beyond.
The USDA reported 143,650 tonnes in new US corn purchases by Mexico for 2016/17 shipment.
Weekly export sales data on Thursday is expected to show large new-crop corn sales and very large new-crop soyabean sales, according to analysts.
Soyabean export premiums for September shipments were about 138 cents a bushel over CBOT November futures, which closed 5-3/4 cents lower at $9.82-1/4 a bushel.
September corn shipments were offered at about 105 cents over CBOT September futures, which closed 1/4 cent higher at $3.22-1/2.
September soft red winter wheat shipments were about 75 cents over CBOT September futures, which closed 4-3/4 cents higher at $4.21-3/4.
Spot hard red winter wheat shipments were offered at about 115 cents over September futures, which closed 1-3/4 cents higher at $4.11-3/4.