Content ID

333571

CBOT soybeans fall on profit-taking pressure

CHICAGO, Sept 13 (Reuters) - U.S. soybean futures fell on Tuesday as traders locked in profits following the market's 5.4% rally on Monday, traders said. * Worries about a global economic slowdown after a report that showed U.S. inflation unexpectedly rose in August added pressure to soybeans. * But concerns about crop shortfall in the United States kept the declines in check. * The benchmark Chicago Board of Trade November soybean futures contract settled 9-1/2 cents lower at $14.78-3/4 a bushel. * The most-active soybean futures contract peaked at $15.08-3/4, its highest on a continuous basis since June 23, during the overnight trading session. * CBOT December soymeal dropped $10.80 to $423.80 a ton. The contract turned lower after briefly topping the high end of its 20-day Bollinger range, a key technical point it also failed to hold support above a day earlier. * CBOT December soyoil gained 0.24 cent to 66.73 cents per lb but closed well off its session peak after facing resistance at its 100-day moving average, a level it has not traded above since June 22. (Reporting by Mark Weinraub Editing by Mark Potter)

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

Read more about
Loading...

Tip of the Day

Driver for electric fence posts is helpful

Fence post driver from Mar '20 AATF I welded a steel cap and handle onto one end of a section of light-duty 1¼-inch angle iron and a footstep onto the other end. This lets me... read more

Talk in Marketing