Bull run prevails in India Equity Mkts, taking Nifty to new record high for 5th day in row-Sensex near 73150
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Cbot feel renewed pressure of US weekly Soybean sales dropping to 55000 Ton:lowest of season/Funds see US home Soybean stoks mounting
Cbot speculative Funds adds shorts in SoyOil on fear SouthAmerica larger shipments wud end US Export window-Rosario Exchange puts Argntna Soy crop 495 LacTon
*Europe Jan Oilseeds crush at 10yr high 35 LacTons*Argntna new Corn crop predicted record 570 LT, wud help Argntna to earn more from Exports despite Cbot prices dropping to 3yr low
*Cbot complex extends pressure as recent rains helps Argntna Soy crops:more rains likly very soon*KLC posts 42 Ringit weekly gains after dropping 72 RM in previous week as Funds focus Malasia stoks drop
Thou US farmers harvest a sizable Soy crop/Brzl Farmers harvest record high Crop in season-Brzl on way to harvest 2nd-largest crop on record-Atleast 3 US bound Ships prepares to load Soy at Brzl 2 Ports as Brzl Prices quoted below US-US Plants bought approx 1 LT Brzl Soy so far/LY Brzl shipped 4.20 LT Soy …
ARGN/BRZL SOYOIL BASIS/PREMIUM-
Arg CDSBO Basis at Close– MCH NCS vs -750 $805.13APL NCS vs -840 $798.07MAY NCS vs -850 $795.87MJJ -800 $812.77 vs -850 $801.75AS NCS vs -910 $787.16OND NCS vs -840 $793.00 Bzl CDSBO Basis at Close – MCH NCS vs -700 $816.15APL -650 $839.96 vs -800 $806.89MAY -700 $828.94 vs -850 $795.87MJJ NCS vs -850 …
Cbot complex faces many negative factors-Brzl/Argntna Soy supplies estimated much more than demand-SouthAmerica higher supplies ends US Export window-US home stoks to elevate on lower Overseas demand-US new season Soy planting poised to elevate-Petro losses lower US home BioDiesel demand
SoyOil hot in India Mkts-Continues run on Ports supply shortage-Kandla HighSeas adds Rs 4kg in 5 days trade thou March Cif marks $12 Ton losses-Plant spot Refined too adds Rs 3.50kg in week-Soy Highseas now trades Rs 3kg over CPO vs Rs 1kg below last week-Cbot SoyOil drops 157pts in week
CBOT MAR:H/L OIL:44.59/43.57,MEAL:336.6/328,SEED:1154/1130CBOT CORN-6.2(M399)WHT-9.7(M573)CANOLA-3.1(MY578.2)PETRO:A76.49$(-2.12)GD:A2049.4(+18.7)SLR:M22.982USDX 103.860-0.015DOWJN 39131+62