Export premiums for soyabeans and corn shipped from the US Gulf Coast were flat on Friday, stabilising after declining earlier this week in light trading following Thursday's US Thanksgiving Day holiday, traders said. Many market participants still were away on holiday. Prices also were largely unchanged for soyabeans, corn and wheat shipped by barge to the Gulf Coast.
Chicago Board of Trade soyabean futures surged to a four-month high, enticing some US farmers to sell supplies from a record-large autumn harvest. The spike in farmer sales added to already robust volumes available to exporters, potentially pressuring basis offers in the coming days. Top global soya importer China bought a cargo of soyabeans for January shipment out of a Brazil, a US trader said. US export sales of 1.9 million tonnes of soyabeans, mostly to China, and 1.7 million tonnes of corn were better than expected, according to US Department of Agriculture data. Export sales of 712,400 tonnes of US wheat also topped pre-report estimates.
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