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

Published Nov 9, 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 Tridge's proprietary AI model for informational purposes.

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 futures contracts on the CBOT closed lower. The main maturities registered drops of 19.50 to 22.25 cents, with January/24 quoted at US$ 13.43½ (- 1.63%) and March/24 quoted at US$ 13.57½ (- 1.63%) 42%) per bushel. In the last five sessions, January accumulated an increase of 3.94% and March, 3.71%. 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 ...

Source: SNA