News

US: Soybean futures fall overnight

Soybean
Maize (Corn)
United States
Published Apr 19, 2023

Original content

Grains and soybeans were down in overnight trading, with inspections of ships leaving Ukraine resuming overnight and some profit taking. Inspections of ships transporting agricultural products out of Ukraine have resumed after a two-day hiatus. Still, the Black Sea Grain Initiative, which is the agreement that allows grain and other products to leave Ukraine, is under threat as both sides accuse the other of wrongdoing. A ship left a Ukrainian port today carrying 52,000 metric tons of corn to China, according to United Nations data. Three ships left yesterday bound for Tunisia, Spain and China. Some investors who were long in the market, or bet on higher prices, likely sold their wheat contracts and booked profits after a recent rally in futures weighed on prices overnight. Wheat futures hit a month high yesterday. Speculators also profited from corn and soybeans as plantings in the US continue. Eight percent of corn was planted on Sunday, up from 3% the week before and 4% in the ...
Source: Agrolink
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