US soyabean futures closed lower on Friday on talk USDA, in its August crop report, may trim its estimate for US 2009 corn acres but increase its forecast for soya seedings. CBOT August down 2-1/2 cents per bushel at $10.21. Funds sold 2,000 lots. Trade expecting USDA to release a steady crop rating for soyabeans late on Monday.
Profit-taking also pressures market. Good weather for development of the US corn and soyabean crops but dryness a bit of a concern in Minnesota, northern Indiana and north-west Ohio. However, cool temperatures are minimising the impact of the dry weather. Spot soyabean bids mostly lower around US Midwest early on Friday.
More Stories
Comments
Comments are closed for this article.