US soybean futures closed lower on Tuesday, pressured by declining stock markets, falling crude oil and a strong dollar. CBOT soy closed 32 to 39 cents per bushel lower, with November down 32 at $9.08 per bushel. USDA said 93 percent of US soy crop harvested, equal to five-year average. Soy harvest almost complete, corn is 71 percent-USDA.
Snow, ice and rain in the west and showers in the east will slow harvest over the next few days in the US Midwest. More favourable harvest weather expected late this week and over the weekend. Deliveries on November 70 lots and strong cash stopping with the Term house account taking 28 lots. Cunningham and Man customers each stopped 16 lots.
US cash soy steady in the interior Midwest. Soymeal closed $5.80 to $6.50 per ton lower, with December down $5.80 at $269.50 per ton. Soymeal followed soy and declines in stock markets. Soyoil ended 1.65 to 1.71 cents per lb lower, with December down 1.65 at 33.73 cents per lb. Soyoil was pressured by a drop in crude oil, a strong dollar and declining equities markets. More soyoil to go for biodiesel output - Oil World.
Comments
Comments are closed.