Saturday, 22 September 2012 02:14
CHICAGO: Soybean futures on the Chicago Board of Trade ended higher on Friday after a seesaw trading session, turning higher in the final minutes of trade on position-squaring ahead of the weekend, traders said.
* Market turned lower at times, under pressure from the expanding US soybean harvest and technical selling.
* Despite the late rally, front-month soybeans ended the week down nearly 7 percent, the market's biggest weekly plunge in a year, amid long liquidation and anecdotal soy yield reports that were not as bad as feared.
* Informa Economics estimated US 2012 soybean plantings at 77.143 million acres, above USDA's current figure of 76.1 million acres, and projected US 2013 soybean plantings at 79.872 million acres.
* Farmers in Brazil's grain belt jump-started planting after early showers set the scene for what is expected to be a bumper corn and record soy crop, producers and analysts said.
* USDA confirmed sales of 140,000 ...