Soy closes higher in the US, continuing the correction movement

Soybean Meal
United States
Agricultural By-products
Published Sep 15, 2023

Tridge summary

CBOT soybean futures contracts closed higher, with the main maturities registering gains. Soybean meal futures contracts also closed higher after two consecutive sessions of decline. Soybean oil closed mixed, with December remaining stable.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

SNA TV LIBRARY SUBSCRIBE Image by jcomp on Freepik The main maturities registered gains of US$ 4.10 to US$ 4.60, with December quoted at US$ 399.40 (+ 1.17%) and January/24 at US$ 396.30 (+ 1. 05%), the short ton. In the last five sessions, December registered an increase of 1.04% and January of 0.74%. Soybean oil closed mixed, with December stable. In the last five sessions, December registered an increase of 1.55%. Without new fundamentals, the appreciation of the real supported future prices, as it reduces the competitiveness of Brazil's exports. Information about agricultural areas in the United States was also positive for the market. The USDA raised the percentage of soybean crops that are under some degree of drought to 48%. A week earlier, the percentage was 43%, which is also above the 23% recorded in the same period last year. USDA – Weekly Soy Sales Report United States exporters reported sales of 703,900 tons of soybeans from the 2023/24 harvest, including ...
Source: SNA
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