Wednesday, 01 April 2015 03:00
CHICAGO: Chicago Board of Trade soybean futures ended higher Tuesday after the US Department of Agriculture’s estimates of US plantings and March 1 stocks came in below trade expectations, traders said.
USDA said US farmers intend to plant a record-high 84.6 million acres of soybeans in 2015, a figure that nonetheless fell below the average trade estimate of 85.9 million.
USDA reported US March 1 soybean stocks at 1.334 billion bushels, up 34 percent from a year ago but slightly below the average trade estimate of 1.346 billion.
Sharp declines in CBOT corn limited gains in soy.
Soymeal closed higher, following strength in soybeans, with May soymeal settling above its 20-day moving average.
Copyright Reuters, 2015
