Chicago Board of Trade nearby soybean futures rose slightly on Friday as the market consolidated to close a volatile week, traders said. Some deferred contracts fell due to forecasts for an up tick in US soybean acreage. The benchmark CBOT soy contract fell 1 percent this week, its third straight week of losses. Soya for July was up 2-1/2 at $13.20-1/4.
During that time prices for the front-month contract have dropped 6.3 percent. Private exporters reported the sale of 120,000 tonnes of US soybeans to China for delivery during the 2011/12 marketing year - USDA. Scattered showers expected around key soybean growing areas of US Midwest during next few days, beneficial for much of the developing crop although flooding a concern in some places.
Comments
Comments are closed for this article.