Login ID:
Password:
Partner Login
Contact Us : 7066511911

CBOT Soybean Moderately Up on Planting Concerns

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

Mumbai (Commoditiescontrol)— Soybean prices found modest gains to start the week on planting delay concerns and general optimism over U.S.-China trade progress. Flooded fields and cold weather across large portions of the Midwest and Plains helped soybean futures capture modest gains. May futures added 3.5 cents to $8.9875, with July futures up 3.75 cents to $9.1250. May 19 Soybean Meal closed at $311.00, up $3.10, May 19 Soybean Oil closed at $28.81, down $0.14

Preliminary volume estimates were for 175,602 contracts, staying above Friday’s final count of 142,194.

Private exporters reported the sale of 5.1 million bushels of soybeans for delivery to unknown destinations for the 2018/19 marketing year, which began September 1.

Last week, soybean export inspections reached just 16.9 million bushels, about half of the prior week’s tally of 32.7 million bushels and on the low end of trade guesses, which ranged between 16 million and 33 million bushels. China was the No. 1 destination, with 4.8 million bushels.

The National Oilseed Processors Association exceeded analyst expectations by reporting a March crush of 170.011 million bushels. That’s moderately ahead of February’s total crush of 154.498 million bushels and slightly behind year-over-year results of 171.858 million bushels last March.

The Brazilian 2018/19 soybean harvest is moving slightly ahead of schedule, at 88% complete, according to consultancy AgRural. Last year’s pace at this time was 85%. AgRural anticipates a total production of about 4.211 billion bushels, moving 1.5% higher than previous forecasts after receiving some beneficial rainfall in February and March.

European Union soybean imports for 2018/19 reached 418.9 million bushels as of April 14, trending 9% higher year-over-year. EU palm oil imports are roughly the same from a year ago, meantime, with EU soymeal imports down 9% year-over-year.

Trade talks between China and the US continued, with media reporting that the US was considering accepting some form of reciprocal enforcement mechanism – a development that most saw as a trade deal becoming more likely.

China’s Ministry of Agriculture and Rural Affairs published figures that showed live pig stocks shrank 1.2% over March compared to February as the swine fever outbreak continues.

Some uneven earnings reports from Goldman Sachs and Citigroup yesterday had Wall St. on its heels, with the Dow sinking 33 points in to 26,379. Energy futures made a moderate retreat Monday, with crude oil, gasoline and diesel all down 0.5% to 1% in previous trading session. The U.S. Dollar softened fractionally.


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   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
NCDEX Soybean Extends Gains On Short-Covering
NCDEX Mustard Futures Stay Higher On Decline in Arrival...
Malaysian PM Cash Market Prices for Palm Oil – Apr 23
Indonesia PM Cash Market Prices for Palm Oil -Apr 22
BMD Palm Pares Early Losses To Close Slightly Lower
more
Top 5 News
Spot Red Chilli Prices Gain On Strong Buying
Spot Jeera Markets Closed In Gujarat For Elections
Spot Turmeric Remains Steady To Firm
Spot Coriander Prices Move Higher On Good Buying
Chana Witnesses Mixed Trend At Major Spot Markets
Top 5 Special Reports
Technical: Chickpea (Chana) Indore
Technical: Pigeon Pea (Tur) Akola Bilty – Expect Ri...
Technical: Chickpea (Chana)- Indore- kabuli 42-44 count...
Technical: Mustard Cake- Sideways Volatility May Be ...
Technical: Moong/Green Peas Jaipur– Pullback Is Being ...
Copyright © CC Commodity Info Services LLP. All rights reserved.