CBOT soybean futures slip as weekly export sales fall, US dollar firms
CHICAGO, April 2 (Reuters) - Chicago Board of Trade soybean futures ended lower on Thursday, in range-bound trade as traders adjusted their positions ahead of the three-day Easter weekend, market analysts said.
Grain markets will be closed on Friday, in observance of Good Friday.
On Thursday, the U.S. Department of Agriculture reported that U.S. soybean export sales for the week ended March 26 were 353,300 tons for 2025-26, down 18% from the prior four-week average, USDA said. Analysts expected 300,000 to 700,000 tons.
CBOT May soybeans SK26 settled 5 cents lower at $11.63-1/2 per bushel.
CBOT May soymeal SMK26 ended down $3.00 to $315.20 per short ton.
CBOT May soyoil BOK26 settled up 1.83 cents at 68.94 cents per pound.
Traders said some of the position jockeying was in response to Wednesday night's televised address by U.S. President Donald Trump, who said the U.S. would continue attacks on Iran.
Trump's speech dampened investor hopes of an imminent end to the Iran war and stoked fears of prolonged higher fertilizer prices due to disruptions to oil supply. Those fears sent oil prices surging, with Brent crude LCOc1 rallying more than 7% to around $110 a barrel on Thursday.
Meanwhile, a rise in the U.S. dollar index =USD pressured grains and soybean markets, as strength in the dollar makes commodities more expensive for overseas buyers.
