CHICAGO: Export premiums for soyabeans shipped from the US Gulf Coast were mostly steady on Monday on moderate demand as prices for shipments from rival South American suppliers have increased, traders said.

Top soya importer China is booking most of its soyabean import needs from Brazil and Argentina, but rising prices there have steered some demand for June and July shipments to the United States, mostly from the Pacific Northwest terminals, traders said.

Limited farmer selling of soyabeans further underpinned the market as exporters would have to raise bids to secure supplies.

Corn and wheat export premiums were unchanged amid routine demand, with a weakening US dollar lifting hopes for renewed demand.

The dollar fell to a 5-1/2 month low against a basket of currencies amid relief over Emmanuel Macron’s victory against anti-euro nationalist Marine Le Pen in the first round of France’s presidential elections.

Export inspections of corn last week topped trade expectations at 1.45 million tonnes. Year-to-date inspections are 62 percent ahead of a year ago, according to US Department of Agriculture data.

Soyabean and wheat export inspections were also above trade estimates at 634,877 tonnes and 612,536 tonnes, respectively.

Soyabean shipments loaded in May were offered around 30 cents a bushel over Chicago Board of Trade July futures.

FOB corn basis offers for late April shipments were around 41 cents a bushel above CBOT May futures.

May soft red winter wheat shipments were offered around 70 cents a bushel over CBOT May futures. Hard red winter wheat cargoes at the Texas Gulf for May shipments were offered at 120 cents over May futures.—Reuters