The US CIF market was mixed on Friday, with bids for soyabean barges firming, supported by a big sale to China on Thursday, while corn bids eased slightly. Corn bids had risen sharply earlier this week.
The US Department of Agriculture on Thursday said that private exporters reported the sale of 525,000 tonnes of soyabeans to China for delivery during the 2017-18 marketing year, the biggest soya deal in more than two months. The FOB market also was mixed, with premiums for export loading of corn rising while soyabean premiums dipped.
Corn barges loaded in March traded at 43 cents over the Chicago Board of Trade March futures contract. Soyabean barges traded at 28 cents over the CBOT January soyabean futures contract for December loadings while January loadings traded at 36 cents over.
CIF corn barges for first-half December delivery were bid at 25 cents over Chicago Board of Trade December futures, down a penny. December corn export shipments from the Gulf were offered at about 58 cents over CBOT March, 1 cent higher than Thursday.
US CIF soyabean barges for first-half December loadings were bid at 26 cents over CBOT January futures, up 2 cents. December soyabean shipments from the Gulf were offered at 43 cents over futures, 1 cent lower than Thursday. December soft red winter wheat barges were bid at 65 cents over CBOT December futures, unchanged from Thursday. December export premiums for soft red winter wheat were steady at 75 cents over futures. December CIF hard red winter wheat bids were up 10 cents at 225 cents over the K.C. March contract for 12 percent protein grain. December export shipments were offered around 215 cents over futures, 5 cents lower than Wednesday.