Chicago Board of Trade soyabean futures closed lower on Monday on technical selling and the absence of any news on a US trade deal with China, the world's biggest soya importer, traders said. CBOT May soyabean futures settled down 3-1/2 cents at $9.05-3/4 per bushel.
CBOT May soyameal ended down $1 at $309.80 per short ton while May soyaoil finished up 0.01 cent at 29.44 cents per pound. The US Department of Agriculture reported export inspections of US soyabeans in the latest week at 841,888 tonnes, toward the low end of trade expectations for 800,000 to 1 million tonnes.
Commodity brokerage INTL FCStone late on Friday projected US 2019 corn plantings at 90.4 million acres and soyabean plantings at 87.7 million acres. Traders monitoring flooding in portions of the western Midwest and the Mississippi River Delta that could delay corn planting in the coming weeks, potentially enticing farmers to switch some fields to soyabeans.
Comments
Comments are closed.