All
 

 

Just in:  

You are here: Home»Markets»Commodities»Americas»CBOT soybeans end lower on technicals, but soyoil soars

soya-beanCHICAGO: Soybean futures on the Chicago Board of Trade erased early gains and closed down 1.2 percent on Wednesday, posting a one-month low on technical selling, while soyoil soared, traders said.

 

* Grains and soy turned lower as the US dollar index rallied amid fading euphoria over a last-minute deal in Washington to avert the "fiscal cliff" of tax hikes and spending cuts. A stronger dollar makes dollar-denominated commodities including soybeans less competitive on the world market.

 

* CBOT soyoil jumped nearly 3 percent, its biggest daily rise since August, after lawmakers included an extension of the $1 a gallon tax credit for soy-based biodiesel as part of their massive fiscal pact.

 

* CBOT March soymeal fell 3.3 percent, plunging below its 200-day moving average on the way to a one-month low, as traders unwound meal/oil spreads.

 

* Funds hold a large net short position in soyoil, leaving that market vulnerable to short-covering.

 

* Crop weather in South America is mostly satisfactory, with pockets of dryness and pockets of extreme wetness leading to some concern about crop planting and growth - MDA EarthSat Weather.

 

* CBOT reported nine soymeal deliveries against the January contract, along with 3,034 soyoil deliveries and no soybean deliveries.

 

Center>Copyright Reuters, 2013


 



 
Index Closing Chg%
Arrow DJIA 16,380.41 1.63
Arrow Nasdaq 4,258.44 0.97
Arrow S&P 1,886.76 1.29
Arrow FTSE 6,310.29 1.85
Arrow DAX 8,850.27 3.12
Arrow CAC-40 4,033.18 2.92
Arrow Nikkei 14,532.51 1.40
Arrow H.Seng 23,023.21 0.53
Arrow Sensex 26,108.53 0.42





where to buy

cheap wedding dresses

online - weddingdresstrend.com


Banking Review 2013


Buy new style hair wigs at cheap price on Ishowigs.com

Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 10, 2014
Reserves $13.401 bln