GRAINS — Chicago soybeans fall on active harvests despite China buying demand
BEIJING, Oct 15 (Reuters) — Chicago Board of Trade soybean futures extended a decline on Thursday as active harvesting in the US Midwest supported supplies, although losses were limited by a resumption of Chinese purchases of US cargoes. Fundamentals The most-traded soybeans contract on the Chicago Board of Trade (CBOT) fell 0.4% to $12.72-3/4 a bushel by 0215 GMT. CBOT wheat was down 0.8% to $6.68 a bushel. CBOT corn fell 0.34% to $4.79 a bushel. Mostly dry weather around the Midwest for the past week allowed farmers to accelerate harvesting after rain delays earlier in the fall. While midweek rains stalled field work this week, drier conditions are expected in the days ahead, forecasters said. The US Department of Agriculture said that 46% of the nation's soybean crop had been harvested as of Sunday, above the average estimate for 44% complete in a Reuters poll of analysts. Chinese government buyers booked 8 to 10 cargoes of US soybeans on Tuesday for shipment in December and beyond, traders told Reuters. The USDA confirmed private sales of 470,000 metric tons to China in a daily export sales announcement on Wednesday. The National Oilseed Processors Association is due to release
BEIJING, Oct 15 (Reuters) — Chicago Board of Trade soybean futures extended a decline on Thursday as active harvesting in the US Midwest supported supplies, although losses were limited by a resumption of Chinese purchases of US cargoes. 72-3/4 a bushel by 0215 GMT. 68 a bushel. 79 a bushel.
Mostly dry weather around the Midwest for the past week allowed farmers to accelerate harvesting after rain delays earlier in the fall. While midweek rains stalled field work this week, drier conditions are expected in the days ahead, forecasters said. The US Department of Agriculture said that 46% of the nation's soybean crop had been harvested as of Sunday, above the average estimate for 44% complete in a Reuters poll of analysts. Chinese government buyers booked 8 to 10 cargoes of US soybeans on Tuesday for shipment in December and beyond, traders told Reuters.
The USDA confirmed private sales of 470,000 metric tons to China in a daily export sales announcement on Wednesday. The National Oilseed Processors Association is due to release September US crush data on Thursday. 116 billion pounds, the lowest since November 2024. Market News Oil prices fell more than $1 in early trade on Thursday as investors weighed risks to supply from attacks on shipping through the Strait of Hormuz against US efforts to cut petroleum shipping costs by easing sanctions on vessels.
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