Content ID

314825

CBOT old-crop soybean contracts end lower after USDA cuts crush forecast

CHICAGO, June 10 (Reuters) - U.S. soybean futures ended mixed on Thursday, with old-crop contracts falling after the U.S. Department of Agriculture (USDA) unexpectedly cut its processor demand outlook in a monthly report. * New-crop futures were higher as tight supplies and concerns about hot and dry U.S. crop weather supported prices. * CBOT July soybeans ended down 18-1/2 cents at $15.44 a bushel. New-crop November futures were up 11-1/4 cents at $14.59-1/2 a bushel. * CBOT July soymeal was $4.80 lower at $381.60 a ton and CBOT July soyoil was 0.13 cent lower at 71.46 cents per lb. * In a monthly supply-and-demand report on Thursday, the USDA lifted its end-of-season stocks outlook after cutting demand from the processing sector. The agency's 2020/21 season ending stocks outlook, however, remained at the lowest in seven years. * In a separate report on Thursday, the USDA said a net 120,700 tonnes of U.S. soybeans were sold for export in the week ended June 3, in line with trade forecasts. * Brazil's CONAB slightly raised its soy harvest outlook for the country. (Reporting by Karl Plumeand Richard Chang)

© Copyright Thomson Reuters 2021. Click For Restrictions - http://about.reuters.com/fulllegal.asp

Read more about
Loading...

Tip of the Day

Batteries are charged continually

Implement solar charger It was frustrating to have to charge or boost the batteries so often on my seed tender, self-propelled belt conveyor, and other pieces of... read more

Talk in Marketing