We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Wilmar International Ltd (PK) | USOTC:WLMIY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.545 | -2.33% | 22.825 | 22.28 | 23.37 | 22.825 | 22.825 | 22.825 | 138 | 15:02:35 |
By Ed Ballard
Singapore-based Wilmar International Ltd. is set to buy sugar against the expiration on Monday of the March raw sugar futures contract, three traders said Monday.
The purchase will include sugar from Central American countries, principally Guatemala, possibly alongside smaller quantities from Argentina and No.1 supplier Brazil, the traders said. Wilmar didn't respond to an emailed request for comment.
Analysts at Marex Spectron said the expiration will likely be a "moderate affair," with less sugar changing hands than in previous contract expirations. It pointed to the low "open interest" in the market, indicating little physical sugar is available to be sold against the expiry.
"Will the expiry tell us much? Probably not--we already know that there is not a huge amount of sugar available, but that demand is also moderate," Marex wrote.
Two traders said as little as 300,000 tons of sugar--about $93 million at Monday's prices--could be sold against the expiry, or around a quarter of what Wilmar purchased when the September contract expired.
Wilmar has emerged as regular buyer at contract expirations. It is well positioned to take delivery of large shipments of sugar when futures contracts expire thanks to longstanding supply agreements that reduce the risk that it will be unable to find a buyer, one senior trader said.
March sugar futures traded 0.7% higher at 14 cents per pound in mid-afternoon trade in London.
Write to Ed Ballard at ed.ballard@wsj.com
(END) Dow Jones Newswires
February 29, 2016 09:57 ET (14:57 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
1 Year Wilmar (PK) Chart |
1 Month Wilmar (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions