May soyabean futures were down 3-1/2 cents at $12.76 per bushel, November up 1/2 cent at $12.01. Mixed amid uncertainty regarding talks between Argentine government and farmers over export tax on soyabeans. There was talk that farmers would delay resuming a strike until May 20, hoping for resolution.
Rain and cool weather slow Brazilian soya harvest, no significant weather concern in Argentina. Midwest basis spot basis bids for soyabeans were steady at interior points and falling at river terminals, dealers said. Sales were quiet. Deliveries on May 721 lots, above estimates. Signs of commercial stopping with a Fortis customer taking 325 lots supportive.
May soyameal was down 80 cents at $326.40 per ton. Deliveries on May 1,475 lots, above estimates. Commercial stopping alleviating bearish impact from big deliveries. May soyaoil was down 0.05 cent at 57.04 cents per lb.
Mixed following choppy moves in soyabeans. Drop in crude oil prices weighs. Big first-day May deliveries of 2,104 lots. But postings were within estimates and signs of commercial stopping was a supportive feature. Biggest stoppers were Rosenthal Collins and RJ O'Brien customers, taking 703 to 862 contracts.
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