Soyabean export premiums were steady to firm at the US Gulf Coast on Friday as sharply lower futures spurred a bounce in demand from top buyer China, traders said. USDA early Friday announced a sale of 126,000 tonnes of US soyabeans to China for delivery during the 2011/12 marketing year in the third straight day of a large sale to the country.
Traders expect China to continue buying cargoes of US and South American soyabeans next week ahead of its week-long National Holiday early in October. Corn export offers were flat Friday, with little new demand materialising even as futures hit the lowest level in three months. Farmer sales were slow into US river markets as growers balked at lower futures and rain delayed crop cutting in some parts of the Midwest. Harvest expected to pick up pace early next week.
Soft red winter wheat premiums were steady to weak after big gains in recent days. Demand for SRW wheat is steady both domestically and abroad as more make its way into animal feed rations due to its recent discount to corn. South Korea's largest feedmaker Nonghyup Feed (NOFI) has bought 55,000 tonnes of US No 3 or better yellow corn for arrival in December via a tender closed late on Thursday, traders said on Friday.
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