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%)

Corn and soyabean spot basis bids were steady to higher around the US Midwest on Wednesday amid slow country movement of both crops, dealers said. Farmer selling was nearly non-existent even as futures rose at the Chicago Board of Trade, with farmers staying on the sidelines ahead of Friday's Christmas holiday.
Cash prices have dipped below price targets of $4 per bushel of corn and $10 per bushel of soyabeans, and farmers are content to wait and see if prices rise before booking any further sales. Soya bids rose by 5 cents per bushel at a processor in Sioux City, Iowa, while corn bids rose by 7 cents per bushel at a northern Illinois processor.
However, corn bids slipped by 2 cents per bushel at rail terminals in Ohio amid slow end-user demand, a broker said. "Usually around this time of year people are scrambling for corn. That's not happening this year," the broker said. Deliveries of both crops to processors and elevators were already slow ahead of the holiday, while rain and snowstorms across parts of the Midwest further dampened that traffic.
A blizzard is set to blanket the central United States on Wednesday, likely shutting roads, reducing visibility to near zero and causing power outages in its wake, forecasters said. At the Chicago Board of Trade, futures were supported by a weak dollar, firm crude oil, snowstorm-related delays and better-than-expected soyabean crush data. US Census Bureau on Wednesday said November soyabean crush at record 168.6 million bushels, above average analyst estimate of 168.4 million bushels.

Copyright Reuters, 2009

Comments

Comments are closed.