Traders' outlook for next week's grain and soyabean complex turned bearish for the second consecutive week because of ample domestic supplies, a weekly Chinese grain survey showed on Friday. Crushers were not active in imports ahead of the week-long Chinese Lunar New Year holidays, which falls in mid-February.
Soyaoil trade was weak because buyers expected prices to fall further before the holidays. Dalian soyaoil futures fell 1.4 percent this week from last week. Traders' outlook for corn has weakened since December after farmers sold more grain to the market.
Corn processing firms and exporters were not active in buying on expectation that prices would fall further. Busy railway transportation ahead of the holidays also led to the low purchases by trading firms. Their outlook for wheat and rice maintained bearish because of frequent auctions by the government to cap prices.
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