By Andrew Johnson Jr.
Of DOW JONES NEWSWIRES
CHICAGO (Dow Jones)--Chicago Board of Trade soybean futures ended Tuesday's
session sharply higher, locked at the 50-cent upper daily trading limits,
continuing a recovery from prior losses on inflationary-based buying and
supportive demand outlooks.
May soybeans settled 50 cents higher at $13.07, July soybeans finished 50
cents stronger at $13.22 and November soybeans ended 50 cents firmer at $12.39.
May soymeal settled up $20.00 at $350.30 per short ton. May soyoil finished 200
points higher at 57.77 cents per pound.
The weakness in the U.S. dollar served as the catalyst to attract speculative
buying, with strong advances in gold providing an inflationary influence to
keep bullish enthusiasm flowing, said Jack Scoville, analyst with Price Futures
Group in Chicago.
The lingering farmers strike in Argentina provided psychological support to
prices also, as rumors of world importers shifting demand from Argentina to
U.S. origin served as a fundamental spark to keep buyers in control of price
direction, he added.
Otherwise, traders said the market's gains were attributed to fresh
speculative money flowing back into commodities, as stability in outside
financial markets and inflationary concerns shed an attractive light on the
market, analysts added.
Meanwhile, analysts expect soybean futures to continue to gather upward
strength heading toward next week's prospective plantings report, as the
uncertainty of 2008 acreage and weather paints murky picture for the market, a
CBOT floor analyst said.
With dwindling old-crop inventories, strong 2008 production is needed to
sustain adequate stocks levels in the 2008-09 marketing year, he added.
Looking forward, traders said the gains should carry into overnight trade, as
the synthetic option price points toward further gains. May soybeans were
synthetically trading between $13.58 and $13.61 on the close, traders said. May
soymeal was synthetically trading between $358.00 and $359.00 on the close, and
May soyoil was reported at a synthetic price of 58.00 to 58.25c, traders said.
In pit trades, buyers and sellers were scattered among various commission
houses, with speculative fund buying estimated at 3,000 lots.
SOY PRODUCTS
Soy product futures soared to their respective upper daily trading limits,
buoyed by speculative led buying, as the markets continue their recovery from
last week's meltdown, analysts said. Soymeal futures rallied to their $20 daily
trading limit for the second consecutive day, feeding off inflationary-based
speculative buying and talk of increased export demand due to a farmer strike
slowing exports from Argentina, analysts added.
Soyoil futures rallied in unison with the rest of the complex, feeding off
the reemergence of speculative fund buying in commodities, traders said.
Nevertheless, soyoil continues to lose product share to soymeal, as traders
point toward a shift in the product spread relationship, analysts said.
May oil share ended at 45.19% and the May crush ended at 99 1/4 cents.
In soymeal trades, buyers and sellers were scattered among various commission
houses, with speculative fund buying estimated at 2,000 lots.
In soyoil trades, buyers and sellers were scattered among various commission
houses, with speculative fund buying estimated at 3,000 lots.
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
33000.00 | + 100 | 34000.00 | + 800 |
ПФО |
32500.00 | + 500 | 33000.00 | + 500 |
СКФО |
37000.00 | + 4000 | 38000.00 | + 4500 |
ЮФО |
36000.00 | + 3000 | 37000.00 | + 3500 |
СФО |
35000.00 | + 2000 | 37000.00 | + 3000 |
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
76000.00 | + 2000 | 85000.00 | + 10500 |
ЮФО |
76000.00 | + 3000 | 77500.00 | + 2500 |
ПФО |
76000.00 | + 2500 | 77500.00 | + 2500 |
СФО |
77000.00 | + 3000 | 78000.00 | + 2000 |
Обсуждение