Taiwan Buys U.S. Soybeans From Archer Daniels Midland
By Sameer C. Mohindru
SINGAPORE--The Taichung branch of Taiwan'sBreakfast Soybean Procurement Association bought two cargoes totaling
120,000 metric tons of U.S. soybeans Tuesday from Archer Daniels Midland Co. (ADM) for shipment in the next quarter,
trading executives said.
BSPA-T bought one cargo at $2.755/bushel premium over the March futures contract on the Chicago Board of Trade, basis
cost and freight, for shipment during Jan. 16-30 from the Gulf of Mexico, executives said. At current futures levels,
the flat price works out to be about $569/ton, C&F.
It bought the second cargo at a $2.7646/bushel premium over the July futures contract on CBOT, also C&F, for shipment
during Feb. 16-March 2, the executives said. At current futures levels, the flat price works out to be about $561/ton,
Brazilian soybeans are cheaper, but that nation's next harvest is available for shipment only from the end of March or
early in April.
Write to Sameer C. Mohindru at email@example.com
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