Traders and analysts on Thursday predicted light deliveries against Chicago Board of Trade January soya futures on Friday, the first notice day for deliveries against the contract. Most sources estimated deliveries against soyabean and soyameal futures at zero to 200 contracts. Soyaoil deliveries were mostly seen at 200 to 1,000 contracts, but one trader said the soyaoil total could reach 2,500 lots.
Friday is also the first notice day for deliveries against CBOT rough rice futures, and one rice trader expects rice deliveries of about 500 contracts. During a futures contract's delivery period, which lasts two to three weeks, the futures market acts like a cash market. Firms holding short positions in CBOT January futures can issue intentions to deliver the physical commodity. Traders holding the oldest-date longs must accept delivery. One indication of delivery prospects is the amount of grain registered with the CBOT.
Comments
Comments are closed.