Login ID:
Partner Login
Contact Us : 7066511911

CBOT Soybean Up on Technical Bounce

26 Apr 2019 5:20 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai (Commoditiescontrol)— Bargain buyers gave soybean futures a small lift on Thursday after incurring heavy losses earlier this week, but a tepid round of export data from USDA kept gains minimized. May and July futures each gained 4 cents to close at $8.5925 and $8.7275, respectively. May 19 Soybean Meal closed at $306.00, up $5.60, May 19 Soybean Oil closed at $27.64, down $0.2. Total volume estimates jumped to 336,504 contracts, rising above last session final count of 258,907.

Last week, soybeans found 21.9 million bushels in old crop sales plus another 800,000 bushels in new crop sales, for a total of 22.7 million bushels. That moved ahead of the prior week’s tally of 10.3 million bushels and slightly exceeded trade estimates of 19.3 million bushels.

Soybean export shipments were for 35.3 million bushels last week. For the 2018/19 marketing year, China continues to lead all destinations for U.S. soybean export commitments, accounting for 29% of the total.

China's imports of soybeans from the United States, the second-largest supplier to the country in 2018, rose in March from the previous month as more cargoes booked during a truce in the trade dispute between the two countries arrived. China, the world's biggest soybean buyer, imported 1.51 million tons of soybeans from the United States in March, data from the General Administration of Customs released on Thursday showed, up from February's shipments of 907,7545 tons.

China also imported 2.79 million tons of soybeans from Brazil, its largest supplier, the customs data showed, up from 2.33 million tons in March 2018.
Total soybean imports in March reached 4.92 million tons, according to customs data released earlier in the month.

IGC upped their 19/20 world soybean production estimate by 2 MMT, which also led to a 5 MMT jump carryout to 56 MMT. BAGE data shows the Argentine soybean harvest at 50.7% complete, above the 39.6% average.

On Wall St., a disappointing earnings report helped fuel moderate stock losses, with the Dow sinking 73 points to 26,524. Energy futures were mixed, with crude oil down moderately while diesel and gasoline saw moderate gains. The U.S. Dollar firmed slightly

  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  

Top | Post Comment  

Latest Market Commentary
Canada/Ukraine White Pea Settles Weak In Mumbai
Tur, MP Origin Moong Firm In Delhi; Urad Weakens
Urad Trade Weak At Chennai
India 2019-20 Kharif Pulses Sowing Down 3.51% As On Aug...
Imported Masoor Trades Lower In Kolkata
Top 5 News
Cotton Rules Steady To Firm In Central, South India Ami...
Canada/Ukraine White Pea Settles Weak In Mumbai
Cotton Slightly Up In North On Positive Global Cues
Tur, MP Origin Moong Firm In Delhi; Urad Weakens
India 2019-20 Kharif Oilseeds Sowing Status As On Aug 1...
Top 5 Special Reports
Weekly ICE Sugar: Ends Down As Brazilian Real Sinks Be...
Weekly ICE Cotton: Ends Firm On Hopes Of Improving US-C...
Weekly: Urad/Moong Gain Most This Week; Masoor Slips
Tur Prices May Move Up From Current Level
India's Vegetable Oil Import Up 26% YoY In July At 14.1...
Copyright © CC Commodity Info Services LLP. All rights reserved.