CHICAGO: Chicago Board of Trade soybean futures closed lower on Friday on seasonal harvest pressure and on profit-taking, traders said.
* Dry weather into early next week will allow U.S. farmers to make rapid progress harvesting the 2013 corn and soybean crops, an agricultural meteorologist said on Friday.
* "Harvest weather looks good from now to about Monday then rains will roll through again next Tuesday through Thursday," said John Dee, meteorologist for Global Weather Monitoring.
* Private exporters reported the sale of 120,000 tonnes of U.S. soybeans to China and 120,000 tonnes of U.S. soybeans to Taiwan for delivery this marketing year, said the Agriculture Department on Friday.
* Malaysian palm oil futures ended lower on Friday after weaker-than-expected export data fanned concerns that demand for the tropical oil has begun to taper, while a stronger ringgit following the Malaysian budget announcement curbed buying.
* Exports of Malaysian palm oil products for Oct. 1-25 rose 3.8 percent to 1,259,841 tonnes from 1,213,583 tonnes shipped during Sept. 1-25, cargo surveyor Societe Generale de Surveillance said on Friday.
* Cash basis bids for soybeans were firm in the Midwest on Friday with processors and river terminals continuing to compete for tight nearby supplies as farmers are reluctant sellers of freshly harvested beans, grain dealers said.
* Key resistance for the November contract is at its 50-day moving average of $13.19-3/4 and major support is at the 100 day moving average of $12.87-3/4. The nine-day relative strength index is at 52.
Chicago Board of Trade corn futures closed lower on Thursday on active harvesting of a likely record large U.S. corn crop, traders said.
* Dry weather forecast into early next week will allow U.S. farmers to make rapid progress harvesting the 2013 corn and soybean crops, an agricultural meteorologist said on Friday.
* "Harvest weather looks good from now to about Monday, then rains will roll through again next Tuesday through Thursday," said John Dee, meteorologist for Global Weather Monitoring.
* Cash basis bids for corn in the Midwest were steady as harvest picked up across the region, cash dealers said. Dealers were prepared for an active harvest weekend.
* The RBOB gasoline to ethanol spread was at 0.7 cents per gallon, premium gasoline, down from 0.8 on Thursday.
* The December corn futures contract was below all key moving averages and the nine-day relative strength index was at 45.
Chicago Board of Trade soybean futures closed lower on Friday on seasonal harvest pressure and on profit-taking, traders said.
* Dry weather into early next week will allow U.S. farmers to make rapid progress harvesting the 2013 corn and soybean crops, an agricultural meteorologist said on Friday.
* "Harvest weather looks good from now to about Monday then rains will roll through again next Tuesday through Thursday," said John Dee, meteorologist for Global Weather Monitoring.
* Private exporters reported the sale of 120,000 tonnes of U.S. soybeans to China and 120,000 tonnes of U.S. soybeans to Taiwan for delivery this marketing year, said the Agriculture Department on Friday.
* Malaysian palm oil futures ended lower on Friday after weaker-than-expected export data fanned concerns that demand for the tropical oil has begun to taper, while a stronger ringgit following the Malaysian budget announcement curbed buying.
* Exports of Malaysian palm oil products for Oct. 1-25 rose 3.8 percent to 1,259,841 tonnes from 1,213,583 tonnes shipped during Sept. 1-25, cargo surveyor Societe Generale de Surveillance said on Friday.
* Cash basis bids for soybeans were firm in the Midwest on Friday with processors and river terminals continuing to compete for tight nearby supplies as farmers are reluctant sellers of freshly harvested beans, grain dealers said.
* Key resistance for the November contract is at its 50-day moving average of $13.19-3/4 and major support is at the 100 day moving average of $12.87-3/4. The nine-day relative strength index is at 52.
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