US MIDDAY: soyabeans lower

19 Apr, 2008

May soyabean futures were down 2-1/2 cents at $13.48 per bushel, new-crop November down 5-1/4 cents at $12.73. Pressured by declines in other commodities including gold as the dollar rallies, but soya pared losses as crude oil rebounded. Labour tension in Argentina seen underpinning soya.
Showers slow Brazil soya harvest, good weather in Argentina. US cash soya steady to firm. May soyameal was down $1.10 at $343.90 per ton. Profit-taking after Thursday's gains. May soyaoil was down 0.28 cent at 60.55 cents per lb. Follow-through technical selling from the lower close on Thursday. But market trimmed losses as crude oil rebounded.

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