On the Chicago Stock Exchange, soybeans closed lower with profit-taking, according to information released by TF Agroeconomia. “The Soybean contract for July 23 closed down -0.18% or $-2.50 cents/bushel at $1350.00. The quote for November 23, the main trading date in the US, closed down -0.34%, or $-4.00 cents/bushel at $1179.75,” he comments.
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“The May24 quote closed down -0.29% or $-3.50 cents/bushel at $1193.00. July Soybean Meal contract closed up 0.85% or $3.4 ton short at $401.2 and July Soybean Oil contract closed down -0.48% or $-0 .24/pound at $49.26”, completes the consultancy. Investors took profits after three consecutive bulls. “A milder climate bulletin has removed the idea, for the time being, of purchases fearing a water deficit. In addition, the low Chinese demand for the American grain also gave the bearish tone of this beginning of the week. The United States Department of Agriculture (USDA) reported that 214,247 tonnes of soybeans were inspected for shipment at US ports in the week ended June 1, down 11.86% from the previous week, but within market estimates. . However, only 7,642 tons were destined for China”, he indicates. “The USDA reported late ...
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