Content ID

334795

CBOT soybeans ease on harvest pressure, weaker grains and oil

CHICAGO, Oct 14 (Reuters) - Chicago Board of Trade soybean futures fell on Friday on rising supplies from the ongoing U.S. harvest and spillover pressure from lower grain, energy and equities markets. * CBOT November soybean futures settled down 12 cents at $13.83-3/4 a bushel. The benchmark contract was up 1.2% in the week in a second straight weekly advance. * CBOT December soymeal settled 10 cents higher at $411.10 a ton and CBOT December soyoil fell 1.13 cent to 65.30 cents per lb. * Concerns about demand for U.S. soybeans amid stiff export market competition from South American shipments anchored soybean futures. * U.S. Department of Agriculture (USDA) "flash sales" announcements this week totaling more than 1.6 million tonnes in sales, mostly to China, failed to inspire buying in futures as the sales were considered routine, traders said. * In a weekly report on Friday, the USDA said net U.S. soybean export sales in the week ended Oct. 6 totaled 724,400 tonnes, in line with trade estimates. (Reporting by Karl Plume in Chicago; Editing by Sandra Maler)

© Copyright Thomson Reuters 2022. Click For Restrictions - http://about.reuters.com/fulllegal.asp

Read more about
Loading...

Talk in Marketing

Most Recent Poll

Will you have enough on-farm storage for harvest?

I just want to see the responses
46% (21 votes)
Yes
35% (16 votes)
No, it’s going to be a bin-buster
9% (4 votes)
Maybe, depending on yields
7% (3 votes)
No, I am looking at new bins or temporary storage
4% (2 votes)
Total votes: 46
Thank you for voting.