Food Industry
Industry: Email Alert RSS FeedSoybean Watch: CBOT Called 2 to 3 Cents Higher.
Resource News International, September, 2004
Winnipeg, MB, Sep 15, 2004 (Resource News International via COMTEX)
Chicago Board of Trade soybean futures are called 2 to 3 US cents per bushel higher, supported by concerns of potential harvest delays stemming from Hurricane Ivan. The futures were also higher in overnight electronic trade and should see some follow-through buying at the open. However, good US yields and improving crop conditions should keep any gains in check, as the current harvest continues.
In export news, the USDA announced private export sales of 110,000 metric tons of US soybeans for delivery to unknown destinations in 2004/05 (Sept/Aug).
The CBOT Nov soybean contract is looking technically bearish and a move to the August low of US$5.52 is still possible, said...
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