Soyabean spot basis bids were steady to sharply lower at US Midwest processors and elevators on Thursday after a rally in Chicago Board of Trade soya futures triggered relatively heavy farmer sales of the oilseed, dealers said. Bids tumbled by 15 cents per bushel at a processor in Sioux City, Iowa, partially offsetting the 28-3/4 cents futures gains.
CBOT March soyabeans finished at a 3-1/2 week high of $10.40-1/4 after the US Department of Agriculture showed slightly smaller-than-expected US production. Soyabean bids also eased at an Indiana processor and at an elevator along the Illinois River.
Copyright Reuters, 2017
Published under arrangements with Reuters.
No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017
Published under arrangements with Reuters.
No content from Business Recorder shall be reproduced, published, broadcast, rewritten for broadcast or publication, or redistributed directly or indirectly in any medium.
Business Recorder shall not be responsible or held liable for any error of fact, opinion or recommendation and also for any loss, financial or otherwise, resulting from business or trade or speculation conducted, or investments made, on the basis of the information posted here. Nor shall Business Recorder be held liable for any actions taken in consequence." >Copyright Reuters, 2017