USA: Soy closes slightly higher, in an extremely volatile session, on the return of the holiday

Published 2023년 7월 5일

Tridge summary

Soybean futures closed higher for the fourth consecutive session, with slight gains in the main maturities. Soybean meal futures, on the other hand, closed lower. Soybean oil continued to rise, with December prices reaching their highest level since January. Corn futures closed lower in a volatile session, with prices reaching new contractual lows, while wheat futures rebounded after seven consecutive sessions of declines.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Soybean futures on the CBOT closed higher for the fourth consecutive session. The main maturities recorded gains of 1 to 1.25 cents, with the August/23 quoted at US$ 14.68¾ (+ 0.07%) and the November/23 at US$ 13.55 (+ 0.09%) the bushel. Soybean meal futures on the CBOT closed lower again. The main maturities fell from US$ 1.60 to US$ 2.80, with August quoted at US$ 410.10 (-0.39%) and December at US$ 393.20 (-0.71% ), the short ton. Soybean oil closed higher for the third straight session, with December posting a 2.01% gain. The December at the maximum of the day (62.41), registered the highest quotation since January 3rd. In the last five sessions, the oil recorded an increase of 7.48%. Soybeans closed slightly higher on Wednesday (05), on the return of the holiday, in an extremely volatile session, as traders try to balance the latest weather conditions with an unexpected set of data released by the USDA, showing an improvement in corn crops and a worsening in soybean crops. ...

Source: SNA