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Thai grain buyers wait, South American soya arriving
BANGKOK ,Trade in Thai grains was slow on Wednesday, with many importers already covering their needs with shipments through to July, traders said.
Argentine low-protein soyameal was offered on Wednesday at $ 220/tonne cost-and-freight (C&F) for July shipment, versus last week's $ 224-$ 225.
Brazilian high-protein soyameal was offered at $ 242, versus last week's $ 240. "About 75 percent of soyameal needs for July shipment have been covered.
A few other importers are still waiting for the price to fall before buying," said one trader.
Some feedmills said they would clinch deals to buy soyameal for July shipment if the price fell to around $ 213-$ 215 per tonne C&F.
Thailand, one of Asia's biggest chicken exporters, imports more than one million tonnes of soyameal and a similar amount of beans annually, mostly for feed with Brazil, Argentina and the United States the main suppliers.
One deal was recently clinched to buy soyameal from Argentina, traders said. "We have been informed that Bungle trading firm recently sold some 10,000 tonnes of Argentine soyameal to one federal based in Samut Partaken province, Bangkok's suburb. It is for July shipment," a trader said.
On Wednesday, locally produced soyameal was quoted at 10.60 baht/kg ($ 255/tonne), versus last week's 10.85.
Traders expect the price of locally produced soyameal to fall further in coming days as more than 200,000 tonnes of both soyameal and beans are expected to arrive in Thailand.
"Four vessels carrying a total of over 200,000 tonnes of soyabean, meal and sunflower are arriving into Thailand in coming days," said one trader.
"The traders who are involved are Cargill, Creamer Asia Trade and Bungle, as well as one local vegetable oils firm."
One vessel, carrying 50,000 tonnes of soyameal from Argentina and Brazil bought by the American trading firm Bungle, is due to arrive in Thailand around June 19-20, traders said.
Another vessel, Henpeck Oldendorse, carrying 57,500 tonnes of Argentine soyabean bought by Thanakorn, was due to hit Bangkok's port this week, traders said.
MGR Archive 19.6.2003
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Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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