Just in:  

You are here: Home»Markets»Commodities»Americas»CBOT soybeans edge lower as corn weakness offsets strong exports

soya-beanCHICAGO: Nearby soybean futures on the Chicago Board of Trade edged lower on Thursday as spillover weakness from corn and positioning ahead of a monthly US government crop report offset support from strong weekly soybean export sales, traders said.


* Nearby soybean and soymeal contracts gained against back months on spreads, supported by larger-than-expected weekly export sales of old-crop soybeans and soymeal.


* Market pressured by expectations of a massive Brazilian soy harvest. Brazil's government supply agency, Conab, raised its estimate of the country's soybean crop to a record 83.4 million tonnes, from 82.7 million in January.


* Argentina's 2012/13 soy harvest is seen at 50 million tonnes, below some initial expectations due to dry weather, the Buenos Aires Grains Exchange said in its first output forecast. The figure is below USDA's current Argentina forecast of 54 million tonnes.


* USDA reported export sales of US soybeans in the latest week at 1.667 million tonnes, above a range of trade estimates for 900,000 to 1.3 million. The figure included 896,100 tonnes of old-crop sales, also above expectations.


* USDA reported weekly soymeal sales at 196,300 tonnes, above estimates for 75,000 to 175,000, and soyoil sales at 25,600 tonnes, within expectations for 10,000 to 30,000 tonnes.


* Trade expects USDA to lower its forecast of US 2012/13 soybean ending stocks in a monthly supply/demand report due out Friday.



Copyright Reuters, 2013


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

where to buy

cheap wedding dresses

online -

Banking Review 2013

Buy new style hair wigs at cheap price on

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln