CBOT soy ends mixed; front January contract hit by profit-taking
- CBOT January soybeans settled down 1/4 cent at $11.91-1/4 a bushel, one day after climbing to $12.
- CBOT January soymeal settled up $3.90 at $396.90 per short ton while January soyoil fell 0.62 cent to finish at 37.72 cents per pound.
CHICAGO: Chicago Board of Trade soybean futures closed narrowly mixed on Tuesday as profit-taking ahead of the US Thanksgiving holiday offset support from expectations of tightening oilseed world supplies and uncertainty about South American crop weather, traders said.
CBOT January soybeans settled down 1/4 cent at $11.91-1/4 a bushel, one day after climbing to $12, the highest price for a most-active soybean contract since June 2016.
CBOT January soymeal settled up $3.90 at $396.90 per short ton while January soyoil fell 0.62 cent to finish at 37.72 cents per pound.
Traders were squaring positions ahead of first notice day for deliveries against CBOT December soymeal and soyoil futures contracts on Monday, Nov. 30.
Traders continue to monitor crop weather in South America. Forecasts called for beneficial rains this week in portions of Brazil and Argentina, but uncertainty and worries about dryness continue to underpin the market.
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