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CBOT soybeans close lower as weather outlook improves

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By Shoaib Ur Rehman

CHICAGO: Chicago Board of Trade soybean futures fell 1.2 percent on Monday, with outlooks for rain in the US Midwest ahead of key development periods for the crop weighing on markets.

Soymeal and soyoil futures also dropped.

The benchmark CBOT November soybean futures contract failed to hold technical support above its 10-day moving average.

Analysts were expecting a weekly US Agriculture Department's report to show that good to excellent ratings for the soybean crop fell 1 percentage point to 60 percent in the latest week.

 

Copyright Reuters, 2017
 

 

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