US soyabeans futures closed mixed on Wednesday on with nearby months up on tight soy stocks and good demand but deferred months were lower on forecasts for wetter weather in Argentina. CBOT March soy ended up 4-3/4 cents per bushel at $9.50-3/4 per bushel. Drop in stock market, firm dollar and sag from the day's highs in crude oil weighed on soy futures.
Argentine farmers threaten new anti-government strike to protest relief measures. Argentine crops soak up isolated storms. Crop conditions in Argentina slowly improving due to recent rainfall, more rain expected this week. China to buy more domestic rapeseed to help farmers. US cash soy steady to firm in the Midwest late on Tuesday and farmer selling was slow.
CBOT March soyameal closed $1.30 per ton lower at $300.50 per ton. Oil-meal spreading weighed on soyameal, as did a drop in corn amid concerns about shrinking demand for feed. CBOT March soyaoil closed up 0.81 cent at 32.34 cents per lb. Following soybeans but late sag from day's highs in crude oil limited gains.
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