Chicago Board of Trade soyabean futures closed lower on Monday, pressured by technical selling ahead of this week's signing of a US-China "Phase 1" trade deal and beneficial rains in crop areas of Brazil, traders said.
CBOT March soyabeans settled down 3-3/4 cents at $9.42-1/4 per bushel. CBOT March soyameal ended up 30 cents at $303.80 per short ton, while March soyaoil fell 0.40 cent to 33.95 cents per pound.
CBOT January soyabean, soyameal and soyaoil contracts expire on Tuesday. Chinese Vice Premier Liu He will visit Washington to sign the so-called Phase 1 trade accord with the United States, with a ceremony scheduled for Wednesday.
Weekend showers brought more rain than expected to Brazil's Rio Grande do Sul state, easing crop stress, the Commodity Weather Group said in a note to clients.
Comments
Comments are closed for this article.