AGL 40.40 Increased By ▲ 0.20 (0.5%)
AIRLINK 129.25 Increased By ▲ 0.14 (0.11%)
BOP 6.81 Increased By ▲ 0.21 (3.18%)
CNERGY 4.13 Increased By ▲ 0.10 (2.48%)
DCL 8.73 Increased By ▲ 0.28 (3.31%)
DFML 41.40 Increased By ▲ 0.15 (0.36%)
DGKC 87.75 Increased By ▲ 0.75 (0.86%)
FCCL 33.85 Increased By ▲ 0.50 (1.5%)
FFBL 66.40 Increased By ▲ 0.50 (0.76%)
FFL 10.69 Increased By ▲ 0.15 (1.42%)
HUBC 113.51 Increased By ▲ 2.81 (2.54%)
HUMNL 15.65 Increased By ▲ 0.42 (2.76%)
KEL 4.87 Increased By ▲ 0.09 (1.88%)
KOSM 7.62 Decreased By ▼ -0.21 (-2.68%)
MLCF 43.10 Increased By ▲ 1.20 (2.86%)
NBP 61.50 Increased By ▲ 1.00 (1.65%)
OGDC 192.20 Increased By ▲ 9.40 (5.14%)
PAEL 27.05 Increased By ▲ 1.69 (6.66%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 150.50 Increased By ▲ 2.69 (1.82%)
PRL 24.96 Increased By ▲ 0.40 (1.63%)
PTC 16.25 Increased By ▲ 0.01 (0.06%)
SEARL 71.30 Increased By ▲ 0.80 (1.13%)
TELE 7.25 Decreased By ▼ -0.05 (-0.68%)
TOMCL 36.29 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.05 Increased By ▲ 0.20 (2.55%)
TREET 16.30 Increased By ▲ 1.00 (6.54%)
TRG 51.56 Decreased By ▼ -0.14 (-0.27%)
UNITY 27.35 No Change ▼ 0.00 (0%)
WTL 1.27 Increased By ▲ 0.04 (3.25%)
BR100 9,967 Increased By 125.2 (1.27%)
BR30 30,751 Increased By 714.7 (2.38%)
KSE100 93,292 Increased By 771.2 (0.83%)
KSE30 29,017 Increased By 230.5 (0.8%)

Spot basis bids for corn and soyabeans rose at elevators around the US Midwest on Wednesday as weeks of slow selling left some terminals short of supplies. Cash bids for both commodities held steady at most processors around the region, grain dealers said.
Farmer selling was slow again on Wednesday as strength in the futures market buoyed growers' hopes that prices will rebound to highs hit earlier in the year. Few farmers were willing to sell at current price levels, a dealer in western Iowa said.
Shipping costs rose on Midwest rivers, leaving grain dealers there with less money to offer farmers for their crops. Basis bids fell at most river terminals. Barges were bid at 425 percent of tariff on the Mississippi River at St. Louis, up from 350 percent of tariff on Tuesday. On the Illinois River, barges were bid at 525 percent of tariff, a 75 percentage point increase from Tuesday.
Bids for barges rose 10 percentage points to 400 percent of tariff on the lower Ohio River. Although basis bids were mostly lower at river terminals, soyabean bids rose by 8-1/2 cents per bushel at a location along the Illinois River.
Chicago Board of Trade corn and soyabean markets rose on Wednesday, boosted by fund buying as well as higher gold and crude oil prices, traders said. May soyabean futures rose 45 cents, a 3.4 percent gain, to close at $13.52 per bushel while May corn futures ended 7-1/2 cents higher at $5.52-1/4 per bushel. CBOT May wheat futures fell 34-1/2 cents, a 3.2 percent drop, to close at $10.33 a bushel. Traders said US wheat was seen as overpriced on the world market.

Copyright Reuters, 2008

Comments

Comments are closed.