April 26, 2012

Taiwan's BSPA obtains 60,000 tonnes soy from Glencore 

The Kaohsiung branch of Taiwan's Breakfast Soybean Procurement Association (BSPA) Tuesday (Apr 24) purchased 60,000 tonnes of Brazilian soy from Glencore at a premium of US$3.055/bushel over the November futures contract on the CBOT, said trading executives.

The purchase, on a cost and freight basis, is for June 1-15 shipment.

The CBOT November soy futures contract is trading around US$13.50/bushel. At current futures prices, the flat price will work out to around US$652/tonne, C&F.

Last week, the Taichung branch of BSPA purchased Brazilian soy at a premium of US$2.01 a bushel over the CBOT July futures contract, on a cost and freight basis, for May 21-June 5 shipment. At current July prices, that works out to around US$649/tonne, C&F.