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Thursday, October 28, 2021

CBOT soybeans end mixed after range-bound trade

CBOT soybeans end mixed after range-bound trade CHICAGO: Chicago Board of Trade soybean futures closed near previous levels on Tuesday after a range-bound trading session featuring moderate soybean-corn spreading, traders said.

The market was underpinned by improving export demand and light deliveries against the CBOT November contract of 50 contracts, at the low end of trade expectations for zero to 500 lots.

The January contract held chart support at its 200-day moving average near $9.81-1/2 but held below its 20-day moving average of $9.87-1/2.

The US Department of Agriculture late on Monday said the US soybean harvest was 83 percent complete, near the five-year average of 84 percent and in line with trade expectations.

Soyoil futures firmed while soymeal futures were lower.

Copyright Reuters, 2017

Source: Brecorder.com

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