CBOT soy ends higher on improving crop ratings, declines in grains
CHICAGO, Aug 2 (Reuters) - Chicago Board of Trade soybean futures closed lower on Tuesday on improving U.S. crop ratings and spillover weakness from corn, wheat and global vegetable oil markets, traders said.
CHICAGO, Aug 2 (Reuters) - Chicago Board of Trade soybean futures closed lower on Tuesday on improving U.S. crop ratings and spillover weakness from corn, wheat and global vegetable oil markets, traders said.
CBOT September soybeans (SU2) settled down 16-1⁄4 cents at $14.15-3⁄4 per bushel and most-active November (SX2) ended down 19-1⁄2 cents a $13.86-1⁄2.
CBOT benchmark December soyoil (BOZ2) fell 1.87 cents to finish at 61.39 cents per lb.
CBOT soymeal futures bucked the weaker trend, with the December contract (SMZ2) rising $3.80 to settle at $403.10 per short ton, gaining against soyoil on meal/oil spreads.
The U.S. Department of Agriculture late Monday rated 60% of the U.S. soybean crop in good to excellent condition, up from 59% the previous week, while analysts surveyed by Reuters on average had expected a decline.
Malaysian palm oil futures slumped by more than 5% for a second consecutive session, as Indonesia lowered its export tax reference price and raised its overseas volumes quota. (POI/)