Soybean Watch: CBOT Beans Called Steady to 2 Cents Higher.

Resource News International, April, 2004

Winnipeg, MB, Apr 27, 2004 (Resource News International via COMTEX)

Chicago Board of Trade soybean futures are seen opening steady to 2 US cents per bushel higher, recovering after Monday's weakness. Tight US stocks and continued cuts to the South American crop should also underpin the market. Soymeal is called steady to US$0.50 per short ton higher. Soyoil is called 0.05 to 0.10 US cents per pound higher.

Soybean planting in the US was 5% complete, as of April 25, which is ahead of the average pace of 2%, said the USDA on Monday. The southern states of Arkansas, Louisiana, and Mississippi were the farthest ahead at, 19%, 35%, and 65% complete, respectively.

Brazil's 2003/04 soybean harvest was 88% complete as of April 23, which compares to...

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