Soyabean export premiums at the US Gulf Coast were steady on Monday amid muted demand from top importer China for supplies from the main US grain shipping port, traders said. Chinese importers believed to be well supplied with soyabeans through early- to mid-January. Some importers inquired about prices on Monday for January Gulf shipments, but no fresh sales were reported.
China has recently favoured higher-protein Brazilian soyabeans or less expensive PNW shipments over Gulf soyabeans. China's soya imports in November seen rising to 5.63 million tonnes, according to the a commerce ministry estimate, compared with arrivals of 3.81 million tonnes in October.
South Korean state-run buyer Korea Agro-Fisheries Corp seeking 150,000 tonnes non-GMO soyabeans. Soft red winter wheat export premiums at the US Gulf were steady to weak on slow demand, while hard red winter wheat premiums were supported by a lack of grain moving into the export pipeline, traders said. High prices hurting demand prospects for US wheat in tenders for grain from several competing origins.
Iraq issued a tender to buy at least 50,000 tonnes wheat from all origins closing on December 4, an Iraqi grain board spokesman said on Monday. Iraq tender seen favouring Russian, Australian and possibly Canadian wheat, with US prices likely to be too high to compete, traders said. Traders still awaiting a tender by Saudi Arabia, which was expected to issue its tender to buy five cargoes of wheat more than a week ago. US corn export premiums at the Gulf Coast were flat on Monday, capped by slow demand for US supplies, traders said.
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