August soyabean futures were down 7 cents at $15.14 per bushel; new-crop November was down 4 at $14.94. Favourable crop weather bearish and market technically weak after recent sell-off. Old-crop/new-crop spreads adjusting after closing out of line Thursday, traders said.
Argentine Senate rejection of tax increase on soya exports this week overhangs prices.August contract below 20 day moving average of $15.72 with next key support at 50 day MA of $14.71-1/2.August soyameal was $1.60 per ton lower at $407.80. August soyaoil was down 0.38 cent at 63.04 cent per lb.
Comments
Comments are closed.