Export premiums for soyabeans shipped from the US Gulf Coast were mostly flat on Tuesday in light trading as top buyers importer China were largely absent and as cheaper South American shipments created headwinds for US supplies, traders said. Soyabean export trade is expected to be lighter than normal all week as buyers in China are away from their offices for the Lunar New Year holiday.
Corn and wheat premiums were also unchanged, underpinned by a weakening dollar which makes US supplies more competitive in the global marketplace. The US dollar was on course to its worst January in three decades against a basket of currencies.
FOB basis offers for February shipments of soyabeans were 45 cents a bushel above Chicago Board of Trade March futures. Corn shipments from the Gulf in late February were offered around 73 cents a bushel over CBOT March futures. Offers for February SRW wheat shipments were unchanged at 85 cents over March futures while HRW shipments were steady at 140 cents over March futures.
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