Export premiums for soyabeans and corn shipped from the US Gulf Coast held mostly steady on Tuesday amid solid demand from buyers, even as futures prices weakened, traders said. The US Department of Agriculture said private exporters sold 212,344 tonnes of US corn to Mexico for delivery in the 2016-17 marketing year.
A day earlier, the agency confirmed private sales of 100,973 tonnes of US corn to unknown destinations for 2016/17 shipment.
The USDA on Monday also confirmed private sales of 264,000 tonnes of US soyabeans to China for 2016-17 shipment. The agency has reported nearly 1.2 million tonnes in sales to China during the past week.
US farmers are expected to bring in record-large crops to meet the demand. Soyabean and corn futures fell at the Chicago Board of Trade on expectations the USDA might raise its estimate for the US soyabean yield in a monthly report due next week, traders said.
November US soyabean shipments were offered at about 74 cents a bushel over Chicago Board of Trade November futures, which closed 18 cents lower at $9.84-1/4 a bushel.
November corn shipments were offered at 78 cents over CBOT December futures, which closed 5-3/4 cents lower at $3.49 a bushel.
Offers for November soft red winter wheat shipments were down 3 cents at 87 cents over CBOT December futures, which settled 2 cents lower at $4.14-1/4 a bushel.