13 July 2012 08:32 [Source: ICIS news]
By Andrea Heng
The weak demand is leading suppliers in
Market players indicated softer buy-sell ideas during the week despite stronger corn futures in the
Corn futures traded in the
Corn futures on the Chicago Board of Exchange were settled at $7.506/bushel during the week ended 11 July, down by 10.2 cents from the previous day.
However, the settlement was up from $7.186/bushel on 3 July.
An offer of US-origin corn-based anhydrous ethanol was heard at $660/cbm FOB (free on board) Chicago, but the CFR southeast Asia (SEA) equivalent at around $740/cbm was deemed too high by buyers, who indicated ideas at around $650/cbm CFR SEA and below, a trader said.
Sellers in southeast Asia, whose price ideas at $670-680/cbm
The last deal heard in the Thai local market was concluded at $650/cbm ex-factory in late June, according to a major supplier.
“Oil companies in
A recent buying tender that was heard concluded at around $638/cbm CFR Philippines has led buyers to pressure sellers to lower their prices.
However, producers are remaining firm in their price indications, citing squeezed margins.
“The buying ideas at $600-610/cbm
($1 = €0.82)
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