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  • Aug 28th, 2004
  • Comments Off on US MIDDAY: soyabeans fall on weak cash prices
Chicago Board of Trade soyabean futures fell on Friday on weak cash soyabean prices and improved Midwest crop weather, floor brokers said.

Soyabeans were down 4-1/2 cents to 8-3/4 cents per bushel, with September down 8-3/4 cents at $6.08 and November down 7 cents at $5.99-1/2.

Refco Inc traded 300 November early, Cargill Investor Services sold 100 November, Man Financial bought 100 November and ADM Investor Services bought 200 November, brokers said.

Friday is the last trading day for CBOT September soyabean, soyameal and soyaoil options contracts, while first notice day for deliveries against the September soya futures contracts is Tuesday.

Midwest processor spot soyabean bids have collapsed this week amid increased farmer sales and the harvest of the Mississippi Delta soyabean crop. Spot bids in Iowa and Minnesota have fallen as much as 90 cents per bushel this week, dealers noted.

Soyameal futures were down $4.30 per ton to unchanged, with September down $4.30 at $181.50 and December down $3.60 at $175.80 per ton.

Soyaoil futures were down 0.17 cent to up 0.05 cent per lb, with September down 0.15 cent at 24.77 cents and December down 0.14 cent at 23.75 cents per lb, below this week's five-week high, on worries about lower oil yields in this year's Canadian canola and US soyabean crops, brokers said.

Copyright Reuters, 2004


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