CBOT soybeans end near unchanged ahead of US crop report
- Soymeal futures slipped $0.10 to $284.30 per short ton, while soyoil slid $0.13 to $30.62 per pound.
- US Department of Agriculture on Wednesday will peg 2020/21 US soybean ending stocks at 524 million bushels.
CHICAGO: Chicago Board of Trade soybean futures finished near unchanged on Tuesday as traders waited for a monthly US crop report due on Wednesday.
The most-active soybean futures contract rose 1/4 cent to $8.73-3/2 a bushel.
Soymeal futures slipped $0.10 to $284.30 per short ton, while soyoil slid $0.13 to $30.62 per pound.
Analysts predicted the US Department of Agriculture on Wednesday will peg 2020/21 US soybean ending stocks at 524 million bushels, up from 425 million in July.
The USDA on Tuesday reported that private exporters struck deals to sell 132,000 tonnes of US soybeans to China for delivery in 2020/21.
China, the world's top soybean importer, is continuing to buy US goods, particularly commodities, under its Phase 1 trade deal with the United States, top White House economic adviser Larry Kudlow said.
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