Home »Agriculture and Allied » World » CBOT soyabean futures sink
Chicago Board of Trade soyabean futures retreated on Wednesday on forecasts for favourable Midwest crop weather and disappointment that China did not include the oilseed on a list of US imports exempted from tariffs, traders said. Traders also squared positions ahead of a monthly US Department of Agriculture (USDA) supply-and-demand report scheduled for release on Thursday. The report is expected to show lower US production.

CBOT November soyabeans settled down 5-1/2 cents at $8.66-1/2 per bushel. CBOT December soyameal ended $3.40 lower at $294.70 per short ton, while December soyaoil rose 0.30 cent to settle at 28.83 cents per pound. Above-normal temperatures are expected in the US Midwest over the next two weeks, forecasters said, which could reduce the number of soya acres at risk of frost. Crop maturity is lagging after many fields were planted late this spring. About 8% of US soya was not yet setting pods as of Sunday, USDA said. China announced a short list of tariff exemptions on Wednesday, but key farm products, including soyabeans, were not included.

Copyright Reuters, 2019


the author

Top
Close
Close