Export premiums for soyabeans shipped from the US Gulf Coast were mostly flat on Monday on seasonally slowing demand for US supplies and a lack of buying interest from top importer China, traders said. Soyabean export trade is expected to be lighter than normal all week as buyers in China are away from their offices for the Lunar New Year holiday.
Chicago Board of Trade soyabean futures plunged 2.5 percent on Monday as improving crop weather in South America fuelled long liquidation. The futures slide limited basis declines, traders said.
FOB basis offers for February shipments of soyabeans were 45 cents a bushel above CBOT March futures.
Corn export premiums were unchanged. US corn competitively priced on the global market for near-term shipments, but newly harvested South American grain will compete for demand in April and beyond.
The US Department of Agriculture on Monday confirmed private sales of 105,000 tonnes of old-crop US corn to Colombia.
Wheat premiums were mostly steady as a lack of available loading capacity at the Gulf Coast and the Pacific Northwest underpinned spot prices, traders said. Winter weather has delayed PNW loadings while fog has hindered operations at the Gulf.
Offers for February SRW wheat shipments were unchanged at 85 cents over March futures while HRW shipments were steady at 140 cents over March futures.