Soyabean export premiums for shipments from the US Gulf Coast were little changed on Tuesday, with nearby values supported by good export demand and tight loading capacity at Gulf elevators, traders said. Corn and wheat export premiums also held steady.
Recent rain along the Gulf Coast has slowed barge unloading and loading of bulk cargo ships at a time when loading capacity was already tight. As a result, some exporters were not quoting prices for shipments in August and early September, traders said. Soyabean export demand remains strong as top buyer China is filling mostly October and November shipping needs from the United States. The US Department of Agriculture on Tuesday confirmed private sales of 119,000 tonnes of US soyabeans to China for 2016/17 delivery. It was the thirteenth daily sales announcement in the past 15 trading days.
FOB basis offers for last-half September loadings were about 138 cents a bushel over CBOT November futures, which closed 2 cents lower at $10.07-1/4 a bushel. Last-half September corn shipments were offered at about 97 cents over CBOT September futures, which closed 1 cent higher at $3.27-1/2. September soft red winter wheat shipments were about 75 cents over CBOT September futures, which closed 1-1/2 cents higher at $4.23-1/2.