Friday, 27 March 2015 02:22
CHICAGO: Chicago Board of Trade soybean futures fell for the third day in a row on Thursday, pressured by a firm dollar and expectations that a key government report next week will show that US farmers plan huge sowings of the oilseed.
Soymeal also fell while soyoil firmed on a rally in the crude oil market.
Declines in soybeans were limited by technical support for the benchmark May contract at its 10-day moving average as well as signs of export demand.
The US Agriculture Department on Thursday morning reported a flash sale of 280,000 tonnes of US soybeans to unknown destinations for delivery in the 2015/16 marketing year.
USDA also said that weekly export sales of old-crop soybeans totaled 505,800 tonnes, above market forecasts ranging from 100,000 to 300,000 tonnes.
Copyright Reuters, 2015
