Food Industry
Industry: Email Alert RSS FeedSoybean Watch: CBOT Called 4 to 6 Cents Lower.
Resource News International, August, 2004
Winnipeg, Aug 24, 2004 (Resource News International via COMTEX)
Soybean futures at the Chicago Board of trade this morning are expected to open 4 to 6 cents a bushel lower pressured by improving growing conditions for the US soybean crop. Weather forecasters are now calling for warmer temperatures in the US Midwest as the soybean crop is in its critical pod filling stage.
CBOT soymeal this morning is expected to open 50c to $1.00 lower following soybeans.
CBOT soyoil is forecast to be unchanged to .05 cents or 5 points lower. Strength in Malaysian palm oil overnight and the frost problems in Canada's canola crop will give some support to the market, say traders.
Yesterday's USDA crop conditions report showed the soybean crop...
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