Export premiums for soyabeans shipped from the US Gulf Coast were mostly steady to firm on Wednesday, mirroring increases in CIF barge basis values as available supplies in the export pipeline have tightened, traders said. Exporters were paying premiums for loaded barges of soyabeans near the Gulf Coast. Flooding on Midwest rivers has delayed shipments from areas north of St. Louis since last week, leaving some exporters short, traders said.

New export demand for soyabeans was light as lower Brazilian prices attracted buying interest, traders said. A wave of farmer selling early this week pulled down Brazilian premiums for near term shipments by about 4 cents a bushel, a trader said. Corn export premiums were mostly unchanged, with light demand noted from regional buyers in Latin America for post harvest shipments. US corn is competitively priced on the world market for shipments through June, when new-crop Brazilian grain will enter the marketplace, traders said. Soft red winter wheat export premiums were flat on muted demand. Hard red winter wheat premiums held steady after rising earlier in the week. The US Department of Agriculture is due to release weekly export sales data early on Thursday.

Copyright Reuters, 2017