CHICAGO: Export premiums for corn and soyabeans shipped from the US Gulf Coast were mostly steady on Tuesday, holding near recent highs on good export demand and firm CIF barge basis values, traders said.

Strong demand from China for old- and new-crop US soyabean shipments underpinned cash premiums, but South American cargoes have captured some recent demand, traders said. Chinese importers booked at least two cargoes of Argentine soyabeans this week for August and September shipment and one from Brazil for August shipment, they said.

US corn remains competitively priced in the global marketplace, although Argentine corn prices for August through October shipment have slipped below US Gulf prices. Brazilian prices have also eased but remain at a premium to the Gulf, traders said.

Wheat export premiums at the Gulf held mostly steady, capped by ample world supplies, traders said.

FOB Gulf July corn shipments were offered at about 82 cents over CBOT July futures, which closed unchanged at $3.85-1/4 a bushel.

Soyabean export premiums for July shipments were 98 cents a bushel over CBOT July futures, which closed 17-1/2 cents higher at $11.50-1/2 a bushel.

July soft red winter wheat was offered at about 55 cents over CBOT July futures, which closed 3 cents lower at $4.43-3/4 a bushel.—Reuters