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 16,960.57 0.72
Arrow Nasdaq 4,449.56 0.50
Arrow S&P 1,978.34 0.48
Arrow FTSE 6,791.55 0.44
Arrow DAX 9,644.01 1.53
Arrow CAC-40 4,330.55 1.82
Arrow Nikkei 15,457.87 1.13
Arrow H.Seng 24,216.01 0.31
Arrow Sensex 26,126.75 0.55





where to buy

cheap wedding dresses

online - weddingdresstrend.com

Buy cheap Nike Mercurials cleats at mercurialscleats.com
cheap wedding dresses on SiteSteer.com - Best Online Wedding Store


Banking Review 2013


Buy direct from

China free shipping trade platform

Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln