Export premiums for soyabeans shipped to the US Gulf held steady for November and December delivery on Wednesday but eased for January and February shipment as supplies were expected to remain abundant, traders said. FOB offers for corn and wheat were unchanged.
Signs of strong export demand for all three commodities underpinned nearby basis levels. The US Department of Agriculture said private exporters sold 132,000 tonnes of soyabeans to China for delivery during the 2016/17 marketing year. South Korean flour mill CJ Cheiljedang Corp purchased 53,350 tonnes of milling wheat to be sourced from the United States. Prices ranged from $184.73 to $234.02 a tonne FOB.
South Korea's Korea Corn Processing Industry Association (KOCOPIA) purchased about 55,000 tonnes of yellow corn to be sourced from the United States in a tender. The corn was purchased at $192.20 a tonne c&f. November US soyabean shipments were offered at about 74 cents a bushel over Chicago Board of Trade November futures , which closed 7-1/2 cents lower at $9.76-3/4 a bushel.
November corn shipments were offered at 78 cents over CBOT December futures, which closed 2-3/4 cents lower at $3.46-1/4 a bushel. Offers for November soft red winter wheat shipments were unchanged at 87 cents over CBOT December futures, which settled 3-1/2 cents higher at $4.17-3/4 a bushel. Spot hard red winter wheat cargoes were offered at 128 cents over December futures, which closed 1-3/4 cents higher at $4.15-1/2 a bushel.
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