US soyabean futures closed mixed on Tuesday as profit-taking and adjustment of bull spreads weighed on July, while November was boosted by unwinding of some bull spreads and on some forecasts for hotter and drier US weather in late July and August, which could harm the soyabean crop. CBOT July down 1-1/4 cents per bushel at $10.30-1/2. New-crop November up 3-1/2 at $9.54-1/2. Funds bought 3,000 contracts.
Overall satisfactory crop weather in the US Midwest, but some hot and dry areas in the US Delta a concern. Also some concern about long-term forecasts for hotter and drier weather in late July and August. Oil World sees 2010/11 US soyabean crop at 92.3 million tonnes, or 3.390 billion bushels, up from 91.4 million tonnes in 2009/10. CBOT July soyameal down $1.90 per ton at $312.90. No deliveries on the July. Funds sold 1,000 contracts. CBOT July soyaoil up 0.42 cent per lb at 37.92. Funds bought 3,000 contracts.
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