CHICAGO: Chicago Board of Trade soyabean futures slid on Tuesday as rains across Brazil and Argentina bolstered supply outlook from the region.
CBOT’s most-active soyabean contract fell 31 cents to 13.85-3/4 per bushel, losing 2.2%, its biggest drop since Oct. 12, 2020. CBOT March soyameal dipped $12.70 to $450.20 per short ton, while CBOT March soyabean oil fell 0.15 to $41.70.
Rains across much of Brazil’s crop-growing regions bolstered parched crops, as the country slowly begins its soyabean harvest.
The US Department of Agriculture announced fresh export sales of 132,000 tonnes of soyabeans to China for shipment in the 2021/2022 marketing year.
Malaysia has filed a complaint against the European Union over its palm oil measures at the World Trade Organization.
Independent truck owners in Argentina are blocking roads and ports in protest of they say are exorbitant taxes and highway tolls, making agricultural exporters worried about further shipping disruptions.
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