CBOT soybeans inch higher on technical trading
CHICAGO, May 19 (Reuters) - Chicago Board of Trade soybean futures inched higher on technical trading on Monday, following two sessions of losses, market analysts said.
CBOT July soybeans SN25 settled up 3/4-cent at $10.50-3/4 a bushel.
CBOT July soyoil BON25 rose 0.51 cent to 49.44 cents per pound. CBOT July soymeal SMN25 fell 80 cents to $291.10 per short ton.
Argentina's 2024/25 soybean crop could suffer "significant losses" in northwestern Buenos Aires province due to the impact of recent storms, the Buenos Aires grains exchange said on Monday.
Gains on deferred month contracts were capped by recent central U.S. Midwest weather that boosted soybean planting ahead of rains this week and uncertainty over government policy impacts on biofuels, analysts said.
The U.S. Department of Agriculture reported weekly soybean exports of 217,842 metric tons for the week ended March 15, below trade expectations.
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