Favorable US crop conditions hang over CBOT soybeans
CHICAGO, July 14 (Reuters) - Chicago Board of Trade soybean futures closed slightly lower on Monday as solid U.S. crop conditions hung over the market, traders said.
Analysts, on average, expect the U.S. Department of Agriculture to rate 67% of the U.S. soy crop in good-to-excellent condition in a weekly report due at 3 p.m. CDT (2000 GMT), according to a Reuters poll. That would be up one percentage point from a week ago and a point below the same time last year.
On Tuesday, the National Oilseed Processors Association is expected to report the U.S. soybean crush in June dropped to a four-month low, analysts said in a poll. It would still be the largest June crush on record, following a recent expansion of U.S. soy processing capacity.
China's soybean imports hit the highest level ever for the month of June, a Reuters calculation of customs data showed, driven by a surge in shipments from top supplier Brazil.
New-crop CBOT November soybeans SX25 ended down 1/4 cent at $10.07 a bushel.
The most-active contract Sv1 earlier fell to a three-month low at $9.98-1/4 a bushel, below the below the psychologically important level of $10, before paring losses.
CBOT August soymeal SMQ25 finished $2.60 lower at $267.70 per short ton, after notching a contract low at $267.10.
CBOT August soyoil BOQ25 closed up 0.42 cent to end at 54.17 cents per pound.
Related Articles
[Reuters Analysis] Fed lowers rates by a quarter of a point; Powell says was a risk management cut
NEW YORK, Sept 17 (Reuters) - The Federal Reserve cut interest rates by a quarter of a percentage point on Wednesday and indicated it will steadily lower borrowing costs for the rest of this year, as policymakers responded to concerns about weakness in the job market in a move that won support from
[Reuters Analysis] Fed easing a mixed blessing for rest of the world: McGeever
By Jamie McGeeverORLANDO, Florida, Sept 17 (Reuters) - We're about to see a rare phenomenon in global central banking: the U.S. Federal Reserve is set to embark on an interest rate-cutting cycle just as many of its peers are winding theirs down. Strictly speaking, the Fed is resuming its easing ...
Why the September Fed Meeting Feels So Strange? The Answer Lies with Miran, Cook and Trump
TradingKey - Beyond analyzing whether the updated dot plot after the Fed’s rate decision reflects a dovish or hawkish tilt, investors are increasingly curious about what will become of the Federal Reserve amid political interference, personnel changes, and potential institutional shifts. The Wall
[U.S. IPO] Oilfield Water Giant WaterBridge Raises $634M in IPO; Can It Repeat LandBridge's 125% Surge?
TradingKey - Oil field water management company WaterBridge (WBI) announced on September 16 that its US initial public offering (IPO) is expected to price 31.7 million shares at $20 per share, raising a total of $634 million.
September Global Central Bank Divergence: How Will U.S. Stocks and Forex Markets Move?
TradingKey - Despite the divergence in monetary policies among major global central banks in September (with the Federal Reserve cutting rates while the European Central Bank, Bank of England, and Bank of Japan maintain steady rates), we expect the policy directions of the Fed, ECB, and BoE to...
