Soyabean export premiums firm at US Gulf Coast

Soyabean export premiums at the US Gulf Coast were steady to firm on Monday, supported by tight nearby supplies and renewed buying interest from China, traders said. Chinese importers, back from a week-long Lunar New Year holiday, appear to have booked at least two cargoes of US soyabeans on Monday, traders said. Spot crush margins in China have improved this month, spurring demand.
Importers in China believed to have most of their February shipment needs filled. US soyabeans seen competitive on the world market through early March. Cheaper Brazilian new-crop soyabean prices seen undercutting US prices after that.