Chicago Board of Trade soyabean futures closed lower on Monday on forecasts for improving South American crop weather along with uncertainty about prospects for a US-China trade deal, analysts said.
CBOT January soyabean futures settled down 8 cents at $9.10-1/4 per bushel after hitting $9.10, the contract's lowest since September 30.
CBOT December soyameal ended down $5.90 at $301.20 per short ton, while December soyaoil finished up 0.21 cent at 30.64 cents per pound.
Forecasts called for beneficial rains this week and next week in crop areas of Brazil and Argentina.
Soya and corn futures were also pressured, along with Wall Street equity markets, after CNBC reported that the mood in Beijing about a trade deal was pessimistic due to President Donald Trump's reluctance to roll back tariffs.
The US Department of Agriculture (USDA) reported export inspections of US soyabeans in the latest week at 1,532,991 tonnes, above a range of trade expectations for 1.0 million to 1.5 million tonnes.
Comments
Comments are closed for this article.