CHICAGO: Chicago Board of Trade soybean futures ended Wednesday on a positive note, amid technical buying and as a South American consultancy cut its forecast for Brazil's 2019 soy exports.
* Soybeans started the day off on the negative side, with the most active soybean contract dipping just below the one-month low struck a day earlier as traders fretted over lagging US exports.
* CBOT March soybeans settled the day up 1-3/4 cents, at $9.02-1/2 per bushel.
* CBOT March soymeal ended down 20 cents at $305.20 per short ton, while March soyoil ended up 0.22 cent at 29.96 cents per pound.
* Brazil is expected to export 70.2 million tonnes of soy in 2019, consultancy Agroconsult said on Wednesday, cutting its previous forecast of 73 million tonnes.
* The forecast for Brazil's total soybean production was revised down slightly to 116.4 million tonnes, compared with the prior forecast earlier this month of 116.5 million tonnes, Agroconsult said.
* The US Department of Agriculture is expected to release its forecasts for US 2019 corn, soybean and wheat plantings this week at its annual Outlook Forum.
* USDA is expected to release six weeks of US export data on Friday. The data release was delayed because of the partial government shutdown.
* Regulatory data from the Commodity Futures Trading Commission released on Tuesday showed that noncommercial traders, a category that includes hedge funds, increased their net short position in CBOT wheat and trimmed their net short position in soybeans.
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