eCBOT Latest
eCBOT futures are mostly firmer this am in follow through from last nights close. The reason cited being "speculation declines in prices of agricultural commodities may attract buyers as governments seek to boost imports to curb food prices."
"South Korea, which imports almost all its grains and energy, will remove import tariffs on corn and milling wheat and reduce duties on oil products after record raw materials prices sent inflation surging, the Ministry of Strategy and Finance said today."
Well, South Korea's import duty on soybeans is zero already, and on corn & milling wheat it's a massive 0.5% so removing the duty isn't going to make a huge amount of difference is it?
"South Korea, which imports almost all its grains and energy, will remove import tariffs on corn and milling wheat and reduce duties on oil products after record raw materials prices sent inflation surging, the Ministry of Strategy and Finance said today."
Well, South Korea's import duty on soybeans is zero already, and on corn & milling wheat it's a massive 0.5% so removing the duty isn't going to make a huge amount of difference is it?