News

US: Soy closes lower with the release of the USDA supply and demand report

Soybean
United States
Market & Price Trends
Published Nov 10, 2023

Tridge summary

Soybean futures contracts on the CBOT closed lower, with the main maturities registering drops. Soybean meal futures contracts also closed lower, except for December, which closed slightly higher. Soybean oil closed higher again, with December recording a 1% gain. The USDA released its monthly supply and demand bulletin, which indicated higher numbers for US soybean and corn crops. China remains active in the North American market and made another large purchase of soybeans in the USA, totaling 2.616 million tons.
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

LIBRARY TV SNA SUBSCRIBE In the last five sessions, January accumulated an increase of 3.94% and March of 3.71% – Image by CJ by Pixabay Soybean meal futures contracts on the CBOT closed lower, except for December, which closed slightly higher at US$0.10, after two consecutive sessions of increases. The main maturities registered drops of US$ 2.80 to US$ 4.60, with December quoted at US$ 449.90 (+ 0.02%) and January/24 at US$ 436.20 (- 0.02%) 64%) to short ton. In the last five sessions, December accumulated an increase of 4.74% and January/24 an increase of 4.94%. Soybean oil closed higher again, with December recording a 1% gain. In the last five sessions, December has accumulated an increase of 0.04%. The USDA released its monthly supply and demand bulletin with higher numbers for US soybean and corn crops this Thursday (9). “The report was bearish for soybeans and corn. Highlight is the increase in productivity of the US harvest, resulting in production and stocks above what ...
Source: SNA
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