USA: Soybeans rise on CBOT

Published 2024년 10월 18일

Tridge summary

Soybean futures on the Chicago Mercantile Exchange rebounded with November and January futures rising, alongside increases in soybean meal and oil, influenced by the upcoming U.S. presidential election and favorable U.S. harvest weather. Wheat futures showed mixed movements due to Russian grain shipment delays and weather forecasts, while the International Grains Council kept global wheat and corn production forecasts unchanged. Corn futures rose on export sales to Mexico and unspecified destinations. Canola futures also rebounded, driven by rising soybean oil prices and bargain hunting, though gains were limited by increased farm sales.

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

Original content

Analysts say soybean futures on the Chicago Mercantile Exchange rebounded Thursday after falling the previous day. CBOT November soybean futures rose 10 cents to $9.90 a bushel, while January soybean futures rose 4 cents to $9.98. The most active December soybean meal rose $4.40 to $318.10 a short ton. December soybean oil settled up 91 cents to 42.59 cents a pound. Analysts say market participants are preparing for the U.S. presidential election, as a new president and new policies could be on the horizon regardless of the outcome. Analysts say relatively dry weather continues to help speed up the U.S. harvest. Chicago Mercantile Exchange wheat futures rose slightly, helped by delays in grain shipments between Russia and Kazakhstan and a Russian Agriculture Ministry recommendation that exporters set minimum price levels. December soft red winter wheat futures rose 4.5 cents to $5.88.5 a bushel. Kansas City December hard red winter wheat futures fell 1/2 cent to $5.96 a bushel, ...

Source: Oilworld