AGL 38.54 Increased By ▲ 0.97 (2.58%)
AIRLINK 129.50 Decreased By ▼ -3.00 (-2.26%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.86 Increased By ▲ 0.09 (2.39%)
DCL 8.73 Decreased By ▼ -0.14 (-1.58%)
DFML 41.76 Increased By ▲ 0.76 (1.85%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.00 Decreased By ▼ -0.08 (-0.23%)
FFBL 67.35 Increased By ▲ 0.85 (1.28%)
FFL 10.61 Increased By ▲ 0.46 (4.53%)
HUBC 108.76 Increased By ▲ 2.36 (2.22%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.75 Decreased By ▼ -0.11 (-2.26%)
KOSM 6.95 Increased By ▲ 0.10 (1.46%)
MLCF 41.65 Decreased By ▼ -0.15 (-0.36%)
NBP 59.60 Increased By ▲ 1.02 (1.74%)
OGDC 183.00 Increased By ▲ 1.75 (0.97%)
PAEL 26.25 Increased By ▲ 0.55 (2.14%)
PIBTL 5.97 Increased By ▲ 0.14 (2.4%)
PPL 146.70 Decreased By ▼ -1.70 (-1.15%)
PRL 23.61 Increased By ▲ 0.39 (1.68%)
PTC 16.56 Increased By ▲ 1.32 (8.66%)
SEARL 68.30 Decreased By ▼ -0.49 (-0.71%)
TELE 7.23 Decreased By ▼ -0.01 (-0.14%)
TOMCL 35.95 Decreased By ▼ -0.05 (-0.14%)
TPLP 7.85 Increased By ▲ 0.45 (6.08%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.45 Decreased By ▼ -0.40 (-0.79%)
UNITY 26.75 Increased By ▲ 0.35 (1.33%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,809 Increased By 41.1 (0.42%)
BR30 29,711 Increased By 311.1 (1.06%)
KSE100 92,406 Increased By 468.1 (0.51%)
KSE30 28,874 Increased By 129.9 (0.45%)

US FOB soyabean export premiums plunged on Thursday amid pressure from cheaper supplies in Brazil, while corn and wheat held mostly steady, traders said. FOB soyabean offers fell as much as 10 cents a bushel for some shipment periods in a market that normally moves 1-2 cents at a time.
"They are still trying to compete with South American values," said a soyabean trader. Brazilian soyabeans for April shipment were offered at 4 cents discount to CBOT May, traders said.
US soyabeans for April shipment were offered at 5-7 cents a bushel premium to CBOT May, compared with 14-15 cents over on Wednesday. The sharp drop in export premiums followed a similar slide in CIF barge premiums earlier in the day.
A single barge of soyabeans for nearby shipment traded at 1 cents a bushel discount to CBOT May and was not rebid, traders said. CIF soyabeans for nearby shipment most recently traded at 8 cents premium and 9 cents premium. The lowest nearby barges have traded in recent days was 6 cents premium.
China has been buying soyabeans from both Brazil and the United States this week. Traders expected them to hold off on additional purchases to see if either basis offers or CBOT soya fall further. FOB corn offers held steady amid CBOT May corn falling below $4 a bushel for the first time since January.
Traders were awaiting results of a tender by Turkish state grain board TMO for 300,000 tonnes of corn and 75,000 tonnes of milling wheat for shipment April 2 and May 21. Soft red winter wheat export premiums were unchanged but the CIF barge market perked up after sliding lower for the past two weeks.
"There were definitely a lot more bids in the market," said a wheat trader. "With the flat price dropping, people are more comfortable putting a bid out there."

Copyright Reuters, 2007

Comments

Comments are closed.