CBOT soybeans close higher on continued exports
- CBOT August soybean futures settled up 5 cents at $9.03 per bushel and most-active November ended up 5 cents at $9.00 per bushel.
- The US Department of Agriculture (USDA) confirmed sales of 132,000 tonnes of US soybeans to China.
CHICAGO: Chicago Board of Trade soybean futures closed higher on Monday on renewed export sales, primarily to China, traders said.
CBOT August soybean futures settled up 5 cents at $9.03 per bushel and most-active November ended up 5 cents at $9.00 per bushel.
CBOT December soyoil ended down .01 cent at 30.53 cents per pound while December soymeal gained $2.80 to finish at $296.90 per short ton.
The US Department of Agriculture (USDA) confirmed sales of 132,000 tonnes of US soybeans to China.
The US Agriculture Department's (USDA) soybean crop ratings are expected to fall by 1 percentage point in its weekly report, according to average analyst estimates in a survey on Monday. Analysts expect good-to-excellent ratings for soybeans to be at 67% as of July 19, with estimates ranging from 66% to 70%.
Malaysia is losing up to 25% of its potential palm oil yield due to a labour shortage that is expected to worsen in the coming months, the Malaysian Palm Oil Association (MPOA) said.
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