CBOT soybeans fall slightly following corn and wheat
Chicago Board of Trade (CBOT) soybean futures edged down on Thursday, pressured by declines in wheat and corn despite support from strong U.S. export sales and weather concerns in Brazil. November soybeans fell 3/4 cent to $10.13-1/4 per bushel. Brazil’s delayed rainy season has raised worries about moisture levels, but a significant issue would arise only if dry conditions persist into October.
CHICAGO, Sept 19 (Reuters) -Chicago Board of Trade (CBOT) soybean futures ticked down after a choppy trade on Thursday, pulled down by slides in wheat and corn but supported by better than expected export numbers and Brazil weather concerns.
- CBOT November soybeans SX24 settled down 3/4 cent to $10.13-1/4 per bushel.
- CBOT December soymeal SMZ24 ended up 20 cents at $321.60 per short ton, and December soyoil BOZ24 rose 0.62 cent to close at 40.93 cents per pound.
- The U.S. Department of Agriculture reported export sales of U.S. 2024/25 soybeans in the week ended Sept. 12 at 1,748,100 metric tons, above trade expectations for 500,000 to 1,600,000 tons. EXP/SOY
- The downturn in corn and wheat futures dragged soybeans along with it, said analysts.
- A delayed rainy season in Brazil has led to depleted moisture levels in swathes of the country, including Mato Grosso, one of Brazil’s top soybean-growing states, analysts said, but dry conditions would need to extend into October to become a serious problem.
Source Link : https://www.xm.com/research/markets/allNews/reuters/cbot-soybeans-fall-slightly-following-corn-and-wheat-53929397
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