US: Chicago Stock Exchange records falls in soybean futures contracts
Soybean
Refined Soybean Oil
United States
Published Jun 1, 2023
Tridge summary
Soybean futures contracts traded on the Chicago Commodity Exchange (CBOT) ended the day on Tuesday (30) with considerably lower prices for grain and oil, while bran was up.
Original content
The market had already been facing significant losses since the morning due to favorable weather conditions for planting in the United States. During the session, the fall intensified due to lower demand for the North American oilseed, since China, the main global buyer, is focused on the Brazilian crop. As a result, soybeans for July 2023 delivery contracts ended down 40.75 cents a bushel, or 3.04%, to settle at $12.19 1/2 a bushel in August, down 41.50 cents or 3.29%. As for by-products, bran had a fall of US$ 9.60, or 2.38%, closing at US$ 392.60 per ton, while soybean oil, due in July, recorded a fall of 2.62 cents or 5.36% to close at 46.20 cents on the dollar. Several factors contributed to the drop in contracts on the CBOT, including falling oil and wheat prices. In addition, signs of a slowdown in the Chinese economy and concerns about the debt ceiling in the United States also influenced the negative scenario. With regard to soybean oil, prices were affected by the sharp ...
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