CHICAGO: Chicago Board of Trade soyabean futures fell on Friday, notching the biggest daily loss since Dec. 9 on pressure from a report that showed the US crush was smaller than expected in December.
Traders also noted some profit-taking ahead of the weekend following the market’s rise to a 6-1/2-year high earlier this week.
Soyaoil futures dropped sharply, following a steep decline in the crude oil market.
Soyameal futures also ended in negative territory.
But soyabeans still posted a weekly gain of 3.1%. The most-active contract has risen for five weeks in a row, its longest stretch since a six-week rally that ended in late September.
- National Oilseed Processors Association members crushed 183.159 million bushels of soyabeans in December, the second biggest monthly crush on record but below the average of market forecasts.
Private exporters reported the sale of 318,000 tonnes of soyabeans to unknown destinations for delivery in the 2021/22 marketing year, the US Agriculture Department said.
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