AGL 40.01 Increased By ▲ 0.01 (0.03%)
AIRLINK 127.31 Increased By ▲ 0.27 (0.21%)
BOP 6.60 Decreased By ▼ -0.07 (-1.05%)
CNERGY 4.50 Decreased By ▼ -0.01 (-0.22%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.95 Increased By ▲ 0.51 (1.23%)
DGKC 87.71 Increased By ▲ 0.86 (0.99%)
FCCL 32.70 Increased By ▲ 0.42 (1.3%)
FFBL 65.10 Increased By ▲ 0.30 (0.46%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.90 Increased By ▲ 0.33 (0.3%)
HUMNL 14.64 Decreased By ▼ -0.04 (-0.27%)
KEL 5.11 Increased By ▲ 0.06 (1.19%)
KOSM 7.52 Increased By ▲ 0.06 (0.8%)
MLCF 41.64 Increased By ▲ 0.26 (0.63%)
NBP 59.70 Decreased By ▼ -0.71 (-1.18%)
OGDC 194.00 Increased By ▲ 3.90 (2.05%)
PAEL 28.28 Increased By ▲ 0.45 (1.62%)
PIBTL 7.85 Increased By ▲ 0.02 (0.26%)
PPL 151.94 Increased By ▲ 1.88 (1.25%)
PRL 26.47 Decreased By ▼ -0.41 (-1.53%)
PTC 16.10 Increased By ▲ 0.03 (0.19%)
SEARL 84.30 Decreased By ▼ -1.70 (-1.98%)
TELE 7.68 Decreased By ▼ -0.03 (-0.39%)
TOMCL 35.39 Decreased By ▼ -0.02 (-0.06%)
TPLP 8.11 Decreased By ▼ -0.01 (-0.12%)
TREET 16.08 Decreased By ▼ -0.33 (-2.01%)
TRG 52.65 Decreased By ▼ -0.64 (-1.2%)
UNITY 26.35 Increased By ▲ 0.19 (0.73%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,953 Increased By 69.4 (0.7%)
BR30 30,908 Increased By 307.7 (1.01%)
KSE100 93,785 Increased By 429.6 (0.46%)
KSE30 29,050 Increased By 119.3 (0.41%)

Soyabean futures at the Chicago Board of Trade were called to open 10 to 15 cents per bushel higher on Wednesday, continuing to recover from this week's slide to a four-week low, traders said. Uncertainty over the October USDA crop report to be issued Friday, a weaker dollar and fresh export business were supportive factors.
There was speculation that the government could cut its estimate of the US soyabean crop to reflect a 1-2 million drop in soya acreage while corn could see a boost in acreage. Friday's report will be the first of the year in which USDA could make an acreage adjustment based on crop insurance data, analysts said. On the export front, there was talk that China bought two cargoes of US soyabeans out of the Pacific Northwest.
The products were expected to open firm on follow-through strength from Tuesday's rally. CBOT soyameal was seen opening $5 to $8 per ton higher and soyaoil 0.20 to 0.40 cent per lb up. Overnight trade was strong, with soyabeans up 1 to 17-3/4 cents per bushel, soyameal $2 to $7.70 per ton higher and soyaoil unchanged to up 0.42 cent per lb.
Overnight, there were heavy October soyameal deliveries of 1,110 contracts. Stoppers were scattered, with customers of Man Professional and Fimat USA taking 346 and 392 lots, respectively. Soyaoil deliveries were also large at 1,342 contracts and they were met by scattered stoppers.

Copyright Reuters, 2007

Comments

Comments are closed.