CBOT soybeans tumble on favorable growing conditions
CHICAGO, June 25 (Reuters) - Chicago Board of Trade soybean futures faltered on Wednesday as ideal growing conditions for the soybean crop in the U.S. Midwest and selling pressure weighed.
CBOT August soybeans SX25 ended 20-3/4 cents lower at $10.29-1/2 a bushel.
CBOT August soyoil BOQ25 ended 0.31 cent lower at 51.94 cents per pound and August soymeal SMN25 settled $4.80 lower at $284.80 per short ton.
Warm, rainy weather has created a greenhouse-like effect and ideal growing conditions for the soy crop in the U.S. Midwest.
Investors anticipated the release of U.S. quarterly stocks and planting data on Monday.
Selling pressure has weighed ahead of the first notice date for the July soybean contract SN25.
Brazil's National Energy Policy Council on Wednesday approved increasing the level of biofuels mixed into fossil fuels, a move celebrated by renewable energy lobbies after the government earlier this year hinted those percentages would not be changed.
Ukraine's 2025 soybean harvest is seen falling to 6.1 million metric tons from 6.5 million metric tons in 2024, analyst Maksym Bozhok from Barva Invest consultancy said on Wednesday.
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