US soyabean futures at the Chicago Board of Trade closed lower on Friday as two private firms forecast record US soya seeding this year. March expired 16-1/2 cents per bushel lower at $8.82-1/2 per bushel. May closed 5-1/2 cents down at $8.76-1/2 per bushel. Soyameal for March expired $3.00 per ton lower at $286.00 per ton. May was down 20 cents at $276.70 per ton.
CBOT March soyaoil expired 0.31 cent per lb lower at 29.80 cents per lb. May closed 0.21 cent lower at 30.17 cents per lb. Futures were weighed by crop forecaster Informa Economics pegging US soyabean plantings this year at a record 81.502 million acres, up from its January estimate of 80.8 million tonnes. Farmers planted 75.7 million acres of soyabeans last year, according to USDA data. Brokerage Allendale Inc forecast soyabean plantings at 80.439 million acres.
More private crop estimates were expected over the next week ahead of USDA March 31 planting intention report. USDA confirmed the sale of 120,000 tonnes optional origin 2009-10 soyabeans to China-USDA. Midwest turning warmer and drier, improving prospects for fieldwork to begin soon - DTN Meteorlogix forecaster.
US cash soya bids were steady on Friday; slowdown in farmer selling after a pick up early this week. There were 30 March soyameal deliveries but they were stopped by commercial ADM. Recent rainfall in Argentina improves outlook for late-planted soya and generally satisfactory weather continues in Brazil.
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