Chicago Board of Trade soyabean futures ended mixed on Monday as worries that the coronavirus pandemic could curb South American soya shipments largely offset spillover pressure from the sinking corn market, traders said.
CBOT May soyabeans settled up 3/4 cent at $8.82-1/4 per bushel.
CBOT May soyameal ended up $2.40 at $325.50 per short ton while May soyaoil rose 0.02 cent at 26.87 cents per pound.
Argentine shipments of soya, corn and other agricultural exports were delayed as the government ramps up inspections of incoming cargo ships to ensure crew members are free of the coronavirus, industry sources said on Monday.
Traders squared positions ahead of Tuesday's US Department of Agriculture prospective plantings and quarterly stocks reports.
Analysts expect the USDA to show March 1 US soyabean stocks at 2.241 billion bushels, down from 2.727 billion at the same time last year. The USDA said private exporters sold 285,000 tonnes of US new-crop soyabeans to Mexico.
Comments
Comments are closed for this article.