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Tue, 6 Mar 2007 10:46:02 +0000 |
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65c US...........that would be............USD 1430/tonne.....ex works.
Followed by various incredulous remarks
This weeks offers from Bremen Germany from a main broker. (Heinz Gruber,
brokers for many of the biggest packers.)
Canadian polyflora, white, max 25mm USD 1920 CFR
Chinese white, max 34mm USD 1395/tonne CIF ! March
shipment.
So claiming the Chinese will not sell at these levels is clearly wrong.
Thats 63.4c DELIVERED to Europe!
For April May shipment they have Chinese white, max 25mm.........USD
1275/tonne................57.95 cents...delivered
No price for Argentine this week, but they have been sending out
internally generated warnings on crop level for some time, but the
concensus in the European traders is that the picture in Argentina is
very mixed, and they have been talking down their harvest to stem a
crash in prices, which fell by 200 dollars a tonne in December alone.
On 14th Feb Argentine white, max 34mm was USD 1410 FOB......so sea
freight to add.
Current cheapest is Vietnamese at USD 1250/ tonne
Within Europe there are offerings at the following lowest rates
Czech polyflora/ rape (canola) USD 2150...free delivered to buyers
warehouse
Romanian white polyflora USD 1985..free delivered to buyers warehouse
I get these sheets of offerings once or twice every
week.................so a purchase at 65cUS ex farm in Canada? Entirely
possible given the rates quoted.
--
Murray McGregor
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