Markets

CBOT soybeans lower on technical selling, South America rains

Published December 19, 2017 Updated December 19, 2017 08:04pm

Benchmark CBOT January soybeans ended down 5-1/2 cents at $9.56 a bushel, the lowest since mid-September. Chart-based selling as prices fell below Monday's lows accelerated declines at midsession.

Soymeal futures closed lower while soyoil rose.

Rains are forecast for much of Argentina's farm belt this week, while widespread precipitation is expected in Brazil later this week, meteorologists said.

The US Department of Agriculture said private exporters sold 145,000 tonnes of US soybeans to unknown destinations for 2018-19 delivery, the third soybean sales announcement in as many days.

 

Copyright Reuters, 2017