Soyabean basis offers were steady to lower on Thursday in line with declines in the CIF barge market, while corn was steady, traders said. There were rumours that China could raise its import duty on soybeans, which could demand. Its import duty reverted to 3 percent after a temporary drop to 1 percent.
USDA said soyabean export sales last week totalled 781,100 tonnes, down 24 percent from the previous week. Soya basis bids in the CIF market were down 6 cents per bushel for October shipments, and down 5 cents for November. Offers for November were down 10 cents. FOB corn basis offers were steady, but traders said there was a lack of fresh export demand.
Comments
Comments are closed.