Chicago Board of Trade soybean futures eased on Monday on good supplies, seasonally slowing U.S. export demand and spillover pressure from falling corn and wheat prices.
-CBOT May soybeans settled down 5-3/4 cents at $11.85-3/4 per bushel.
-CBOT May soymeal settled $4.30 lower at $333.40 per short ton, and May soyoil gained 0.29 cent to settle at 48.24 cents per pound.
-Stiff competition for U.S. export sales from Brazil and concerns about demand from top-importer China still hang over the market.
-Brazil's soybean harvest for the 2023/24 cycle had reached 74% of the planted area as of last Thursday, agribusiness consultancy AgRural said on Monday, up 5 percentage points from the previous week.
-Traders continued to digest U.S. Department of Agriculture (USDA) data released last Thursday that projected U.S. 2024 soy plantings at 86.5 million acres, in line with trade expectations and up 3% from 2023. The acreage total is likely to shift with changing spring planting conditions.
-The USDA on Monday morning said export inspections of U.S. soybeans totaled 414,484 metric tons in the week ended March 28, below trade estimates for at least 500,000 tons.
-The USDA is due to release its monthly soy crush report later on Monday. Analysts surveyed by Reuters on average expect the government to report that processors crushed 196.4 million bushels of soybeans in February, up 0.8% from January and up 11.0% from the same month a year earlier.
-CBOT May soybeans settled down 5-3/4 cents at $11.85-3/4 per bushel.
-CBOT May soymeal settled $4.30 lower at $333.40 per short ton, and May soyoil gained 0.29 cent to settle at 48.24 cents per pound.
-Stiff competition for U.S. export sales from Brazil and concerns about demand from top-importer China still hang over the market.
-Brazil's soybean harvest for the 2023/24 cycle had reached 74% of the planted area as of last Thursday, agribusiness consultancy AgRural said on Monday, up 5 percentage points from the previous week.
-Traders continued to digest U.S. Department of Agriculture (USDA) data released last Thursday that projected U.S. 2024 soy plantings at 86.5 million acres, in line with trade expectations and up 3% from 2023. The acreage total is likely to shift with changing spring planting conditions.
-The USDA on Monday morning said export inspections of U.S. soybeans totaled 414,484 metric tons in the week ended March 28, below trade estimates for at least 500,000 tons.
-The USDA is due to release its monthly soy crush report later on Monday. Analysts surveyed by Reuters on average expect the government to report that processors crushed 196.4 million bushels of soybeans in February, up 0.8% from January and up 11.0% from the same month a year earlier.