CBOT soybeans plunge with heavy supplies, South American weather in focus
CHICAGO, Oct 25 (Reuters) -Chicago Board of Trade soybean futures fell sharply on large supplies and beneficial weather in South America, while traders awaited the results of the U.S. presidential elections amid worries about rising trade tensions with China under a potential Donald Trump administration, analysts said.
CBOT November soybeans SX24 ended down 8-1/2 cents at $9.87-3/4.
CBOT December soymeal SMZ24 settled down $4.60 at $305.80 per short ton and December soyoil BOZ24 fell 0.18 cent to finish at 44.15 cents per pound.
For the week however, Sv1 rose 1.83%.
The USDA confirmed private sales of 116,000 metric tons of U.S. soybeans to China for delivery in the 2024/25 marketing year that began Sept. 1.
French dairy giant Danone DANO.PA has stopped sourcing soy from Brazil and now buys from countries in Asia, its finance chief told Reuters, ahead of a European Union rule requiring companies to prove they are not sourcing from deforested land.
Reporting by Renee Hickman; editing by Diane Craft
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
