US FOB Gulf export premiums for soyabeans, wheat rise

Export premiums for soyabeans and wheat shipped from the US Gulf Coast rose on Thursday as flooding on Midwest rivers disrupted shipments of crops, traders said. The Illinois River and parts of the Mississippi River were effectively closed to barge traffic because of high waters, traders said.
The Jerry F. Costello lock and dam in Modoc, Illinois, on the Kaskaskia River, was closed because of high waters on Thursday morning, according to the US Army Corps of Engineers. Water levels on the Mississippi River were "within an acceptable level at the moment," an Army Corps spokeswoman said. She noted more rain was forecast. FOB soyabean basis offers for July were offered at 105 cents over Chicago Board of Trade (CBOT) July soyabean futures , an increase of 10 cents from Wednesday, traders said.