Export premiums for soyabeans shipped from the US Gulf Coast were mostly steady with a firm tone on Monday, underpinned by higher CIF barge basis values and rising prices in Brazil, traders said. Slow farmer sales of soyabeans in Brazil amid a stronger real currency lifted prices for export shipments through July by at least 2 cents a bushel, traders said.

US prices for July shipments to Asia have narrowed their premium to Brazilian prices, raising hopes for improved interest from buyers such as China, they said. CIF soyabean barge basis bids rose by 1 to 3 cents a bushel for June through August loadings, brokers said. Corn export premiums were mostly unchanged on moderate demand and improving barge shipping logistics, traders said. Exporter demand for spot corn barges has moderated as receding Midwest rivers lessened worries over tightening supplies at Gulf terminals. Flooding on Midwest rivers halted shipments earlier this month.

Premiums for already loaded corn barges have narrowed to 1 to 2 cents above May-loaded vessels, down from as much as 10 cents early last week, traders said. Export premiums for hard and soft red winter wheat were mostly unchanged. Soyabean shipments loaded in May were unquoted. June loadings were offered around 42 cents a bushel over Chicago Board of Trade July futures. FOB corn basis offers for June shipments were about 37 cents a bushel above CBOT July futures. June SRW wheat shipments were offered about 54 cents a bushel over CBOT July futures. HRW wheat cargoes at the Texas Gulf for June shipments were offered at about 125 cents over Chicago Board of Trade July futures.

Copyright Reuters, 2017