CBOT soybeans gain on renewed US sales to China
- CBOT August soybean futures settled up 7 cents at $9.06-1/4 per bushel, while November soybean futures added 4-1/2 cents to $9.00 per bushel.
- Private exporters reported the sale of 132,000 tonnes of soybeans to China, the US Department of Agriculture said on Thursday.
CHICAGO: Chicago Board of Trade soybean futures closed higher on Thursday as renewed purchases of the US oilseed from China offset tensions between the two countries.
CBOT August soybean futures settled up 7 cents at $9.06-1/4 per bushel, while November soybean futures added 4-1/2 cents to $9.00 per bushel.
CBOT December soyoil ended down 0.16 cent at 30.36 cents per pound, while December soymeal added $3.70 to finish at $297.90 per ton.
Private exporters reported the sale of 132,000 tonnes of soybeans to China, the US Department of Agriculture said on Thursday.
Escalating tensions between the United States and China muted gains after Washington ordered Beijing to close its consulate in Houston amid accusations of spying.
Weekly soybean export sales totaled 2.666 million tonnes, the biggest weekly total since December 2018. Analysts' forecasts had ranged from 1.3 million to 2.7 million tonnes.
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