Soybeans closed higher with the market focused on US weather conditions and oil support

Published 2023년 8월 17일

Tridge summary

Soybean futures on the CBOT closed higher, with gains in main maturities. Soybean meal futures, however, closed lower. Soybean oil closed higher for the fourth consecutive session. Traders are keeping an eye on weather conditions in the US and the North American harvest, which could impact prices. US exporters sold 93,600 tons of soybeans for the 2022/23 harvest, representing a drop from the previous week.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

LIBRARY TV SNA SUBSCRIBE Photo: Vecteezy.com Soybean futures contracts on the CBOT closed higher again. The main maturities recorded gains of 6.50 to 7 cents, with November/23 quoted at US$ 13.30 (+ 0.49%) and January/24 at US$ 13.40 (+ 0.52%) the bushel. Soybean meal futures on the CBOT closed lower. The main maturities fell from US$ 1.90 to US$ 4.90, with September quoted at US$ 399.60 (-1.21%) and December at US$ 380.70 (-0. 50%), the short ton. September at the low of the day (US$ 397.20), recorded the lowest price since July 10th and December at the low of the day (US$ 379.00), recorded the lowest price since June 29th. September and December recorded a drop of 3.71% and 3.30%, respectively, in the last five sessions. Soybean oil closed higher for the fourth consecutive session, with December registering a gain of 1.54%. At the high of the day (64.18), December registered the highest quotation since July 26th. December registers in the last five sessions an increase of 5.46%. ...

Source: SNA