Reuters
2022.08.03 03:29

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 16-14 cents at $14.15-34 per bushel and most-active November (SX2) ended down 19-12 cents a $13.86-12.

  • 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/)

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