AGL 39.54 Decreased By ▼ -0.46 (-1.15%)
AIRLINK 128.00 Decreased By ▼ -1.06 (-0.82%)
BOP 6.83 Increased By ▲ 0.08 (1.19%)
CNERGY 4.70 Increased By ▲ 0.21 (4.68%)
DCL 8.50 Decreased By ▼ -0.05 (-0.58%)
DFML 41.45 Increased By ▲ 0.63 (1.54%)
DGKC 82.95 Increased By ▲ 1.99 (2.46%)
FCCL 33.02 Increased By ▲ 0.25 (0.76%)
FFBL 74.00 Decreased By ▼ -0.43 (-0.58%)
FFL 11.95 Increased By ▲ 0.21 (1.79%)
HUBC 110.75 Increased By ▲ 1.17 (1.07%)
HUMNL 14.42 Increased By ▲ 0.67 (4.87%)
KEL 5.24 Decreased By ▼ -0.07 (-1.32%)
KOSM 7.67 Decreased By ▼ -0.05 (-0.65%)
MLCF 39.00 Increased By ▲ 0.40 (1.04%)
NBP 64.00 Increased By ▲ 0.49 (0.77%)
OGDC 194.00 Decreased By ▼ -0.69 (-0.35%)
PAEL 25.70 Decreased By ▼ -0.01 (-0.04%)
PIBTL 7.35 Decreased By ▼ -0.04 (-0.54%)
PPL 155.30 Decreased By ▼ -0.15 (-0.1%)
PRL 25.90 Increased By ▲ 0.11 (0.43%)
PTC 18.07 Increased By ▲ 0.57 (3.26%)
SEARL 82.42 Increased By ▲ 3.77 (4.79%)
TELE 7.74 Decreased By ▼ -0.12 (-1.53%)
TOMCL 33.49 Decreased By ▼ -0.24 (-0.71%)
TPLP 8.51 Increased By ▲ 0.11 (1.31%)
TREET 16.65 Increased By ▲ 0.38 (2.34%)
TRG 56.85 Decreased By ▼ -1.37 (-2.35%)
UNITY 27.63 Increased By ▲ 0.14 (0.51%)
WTL 1.38 Decreased By ▼ -0.01 (-0.72%)
BR100 10,551 Increased By 106 (1.01%)
BR30 31,336 Increased By 146.6 (0.47%)
KSE100 98,431 Increased By 632.6 (0.65%)
KSE30 30,701 Increased By 220.1 (0.72%)

US FOB corn and soyabean export premiums were slightly weaker on Monday, pressured by higher futures prices and a slowdown in fresh export sales, traders said.
CBOT corn hitting a fresh 10-year high and contract highs in overnight trading prompted some farmer selling before the open. However, country movement tapered off by mid-morning with producers holding out for even higher prices.
US corn export demand is steady but recent rallies in futures prices are curbing demand. CBOT December corn has climbed 29 cents in the last two weeks to $3.71-1/2 per bushel, with some analysts expecting prices to hit $4 before the end of the year.
"The rally has really slowed things down," said a corn trader. South Korea feed makers bought 110,000 tonnes of optional-origin corn late on Friday for arrival in May and June but buyers made few new inquiries on Monday, traders said.
At the moment, South Korea would most likely receive US corn, traders said.
Corn prices are still strong in China due to harvest delays and exporters scrambling to meet obligations. Argentina continues to suspend export registrations of new-crop corn.
US soyabean export demand was steady, but traders expected business to slow without a sharp fall in CBOT soya. China bought several cargoes of soyabeans for shipment from the US Gulf last week but was also interested in soyaoil. Demand for soyameal in China has been sluggish but soyaoil demand is strong. Hard and soft red winter wheat export premiums were unchanged amid little export demand. "We're pretty lacklustre right now," said a wheat trader.

Copyright Reuters, 2006

Comments

Comments are closed.