Markets

CBOT soy ends nearly flat, early gains pared

CHICAGO : Chicago Board of Trade soybean futures closed nearly flat on Wednesday with early gains pared on pressure fr
Published Updated

* Volume was the lowest in over four months, according to Reuters data.

* Informa Economics pegged 2011 US soybean production and yield above expectations.

* Traders said there was talk that China bought 2-4 cargoes of US soy. Cash soybean markets were firm.

* Deliveries on the November contract 401 contracts. ABN Amro customer issued 310, Tenco customer stopped 218 and Term house stopped 165. Strong commercial stopping of the deliveries.

* Intl FC Stone pegs 2011 US soybean production 3.109 billion bushels, above USDA's current forecast for 3.060 billion. USDA will release its next production forecast on Nov. 9.

* Malaysian palm oil futures climbed 1.2 percent on Wednesday as traders looked to a developing La Nina weather pattern that could curb production of the tropical oil.

* Greece's prime minister faces a grilling from the leaders of Germany and France on Wednesday after fighting to win the backing of his cabinet to hold a referendum on a $178 billion bailout package.

* MF Global Holdings Ltd failed to protect customer accounts be keeping them separate from its own funds, said a top US exchange regulator, another shock for commodity markets scrambling to contain fallout from the brokerage's bankruptcy.

* January below all key moving averages and the nine-day RSI at 36.

1:26 PM CDT

Copyright Reuters, 2011