09:04, 24.08.2005 — Новости
автор: WebAgro.net

DJ CBOT Soy Review: Edges Higher In Two-Sided Trade (ENG)


 CHICAGO (Dow Jones)--Soybean futures on the Chicago Board of Trade ended a
two-sided session moderately higher Tuesday, extending their price recovery in
quiet trade, with talk of Chinese buying interest and crop uncertainties
underpinning prices, traders said.

November soybeans ended 3 1/4 cents higher at $6.20 1/2 a bushel, December
soymeal settled $0.50 higher at $192.80 a short ton, while December soyoil
ended 7 points higher at 22.81 cent a pound.

"With just a bit of crop uncertainty in the market, rumors that China may be
in for U.S. soybean supplies enabled futures to find some legs," said John
Kleist of Kleist Agricultural Consulting.

The market experienced two-sided price action in thin trade, with demand talk
and lower-than-expected crop ratings providing modest support, while spillover
weakness from faltering corn and wheat futures attracted local selling, traders
said.

Technically motivated activity was a featured attraction in early trade, with
participants satisfying an objective of filling a chart gap basis November
before setting back on its failure to challenge resistance at its 10-day moving
average.

However, after aggressive selling failed to emerge once the most-active
November future penetrated underlying support near the $6.16 area, local short
covering surfaced to lift prices heading down the stretch, traders said.

Smaller-than-expected improvements in crop ratings from U.S. Department of
Agriculture provide underlying support to prices, as did talk of Chinese
buying. However, the China buying should be taken with a grain of salt, amid
reports of China being fully stocked with supplies, added Kleist.

Tour scouts on the eastern leg of the John Deere/Pro Farmer crop tour had
favorable comments for corn and soybeans in Indiana, based on what they had
seen Tuesday. The crop looks better than what was seen Monday in Ohio, they
said.

Meanwhile, the DTN Meteorlogix weather forecast said some showers are in
store for the Midwest during the last half of this week. Temperatures will be
normal to a few degrees below normal before rise to near- to above-normal
values during the balance of the week.

In pit trades, ABN Amro bought 400 September and 200 November, Cargill
Investor Services and UBS Securities each bought 200 November, and Fimat and
Refco each bought 500 November.

On the sell side, Bunge Chicago sold 400 November, Man Financial sold 500
November, Cargill Investor Services and Citigroup each sold 300 November, and
ABN Amro sold 200 January.

South American soybean futures ended higher. The September futures settled 1
cent higher at $6.47.


Soy Products


Soy-product futures ended higher, following the lead of soybeans in quiet
trade. A thinly traded two-sided session was seen in both markets, with the
absence of any fresh market-moving news keeping futures following the lead of
soybeans.

December oil share ended at 37.17%, and the November/December crush was at 54
1/2 cents.

In soymeal trades, Fimat, Man Financial, Prudential Financial, Refco and
Tenco were light early buyers. Cargill Investor Services, Fimat and Goldenberg
Hehmeyer were each light sellers.

In soyoil trades, Cargill Investor Services bought 300 December, and ADM
Investor Services, ABN Amro, Fimat and Man Financial were light buyers. Cargill
sold 300 December, Refco sold 400 December, and Bunge Chicago, Merrill Lynch
and ADM Investor Services were light sellers.



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