AIRLINK 191.54 Decreased By ▼ -21.28 (-10%)
BOP 10.23 Decreased By ▼ -0.02 (-0.2%)
CNERGY 6.69 Decreased By ▼ -0.31 (-4.43%)
FCCL 33.02 Decreased By ▼ -0.45 (-1.34%)
FFL 16.60 Decreased By ▼ -1.04 (-5.9%)
FLYNG 22.45 Increased By ▲ 0.63 (2.89%)
HUBC 126.60 Decreased By ▼ -2.51 (-1.94%)
HUMNL 13.83 Decreased By ▼ -0.03 (-0.22%)
KEL 4.79 Decreased By ▼ -0.07 (-1.44%)
KOSM 6.35 Decreased By ▼ -0.58 (-8.37%)
MLCF 42.10 Decreased By ▼ -1.53 (-3.51%)
OGDC 213.01 Increased By ▲ 0.06 (0.03%)
PACE 7.05 Decreased By ▼ -0.17 (-2.35%)
PAEL 40.30 Decreased By ▼ -0.87 (-2.11%)
PIAHCLA 16.85 Increased By ▲ 0.02 (0.12%)
PIBTL 8.25 Decreased By ▼ -0.38 (-4.4%)
POWER 8.85 Increased By ▲ 0.04 (0.45%)
PPL 182.89 Decreased By ▼ -0.14 (-0.08%)
PRL 38.10 Decreased By ▼ -1.53 (-3.86%)
PTC 23.90 Decreased By ▼ -0.83 (-3.36%)
SEARL 93.50 Decreased By ▼ -4.51 (-4.6%)
SILK 1.00 Decreased By ▼ -0.01 (-0.99%)
SSGC 39.85 Decreased By ▼ -1.88 (-4.51%)
SYM 18.44 Decreased By ▼ -0.42 (-2.23%)
TELE 8.66 Decreased By ▼ -0.34 (-3.78%)
TPLP 12.05 Decreased By ▼ -0.35 (-2.82%)
TRG 64.50 Decreased By ▼ -1.18 (-1.8%)
WAVESAPP 10.50 Decreased By ▼ -0.48 (-4.37%)
WTL 1.78 Decreased By ▼ -0.01 (-0.56%)
YOUW 3.96 Decreased By ▼ -0.07 (-1.74%)
BR100 11,697 Decreased By -168.8 (-1.42%)
BR30 35,252 Decreased By -445.3 (-1.25%)
KSE100 112,638 Decreased By -1510.2 (-1.32%)
KSE30 35,458 Decreased By -494 (-1.37%)

Soybean futures at the Chicago Board of Trade were consolidating on Friday after climbing nearly 30 cents in the past week, traders said. November soyabeans were up 1/4 cent at $6.08-1/4 per bushel. November soya, which closed at $5.79-3/4 cents on October 12, recovered nearly 30 cents in the past week. The back months were down 1/2 cent to up 1-1/2 cent.
CBOT corn and wheat were lower on Friday, a break in a recent trend when the grains gained on soyabeans. Despite outlooks for abundant supplies of soyabeans, the market firmed this week, gaining on corn and wheat as the price relationships between the commodities adjusted from last week's aberrations. The soya/grains price spreads moved to historically tight levels, raising concerns about soya plantings next spring.
Firm US cash markets for soyabeans were supportive, underpinned by a lack of country sales as farmers hold out for higher prices and steady demand from exporters to meet Chinese demand. It should be a fairly clear weekend for harvest, especially in the western belt, but rains will continue to stall farmers in Indiana, Ohio and Michigan, said Meteorlogix weather service.
The market is hovering at five-month highs and the November contract is above all key moving averages with first major support at its 200 day MA of $5.99-1/4. The nine-day relative strength index for November closed Thursday at 77, above the 70 level viewed as an overbought market.
December soyameal was up 30 cents at $179 per ton, and the back months were up 60 cents to down 30 cents. December soyaoil was 0.14 cent per lb lower at 26.40 cents. The deferreds were down 0.12 to up 0.20 cent. This week's strength in the European veg oil market was supportive in Chicago soyabean oil amid an expanding green fuels market.

Copyright Reuters, 2006

Comments

Comments are closed.