By Andrew Johnson Jr
Of DOW JONES NEWSWIRES
CHICAGO (Dow Jones)--Soybean futures on the Chicago Board of Trade ended
higher Tuesday, climbing on concerns that a lingering Argentina farmer's strike
could further tighten U.S. 2008-09 stocks.
CBOT May soybeans ended 11 1/2 cents higher at $9.67, and November soybeans
settled 1 cent higher at $8.96 1/2.
May soy meal settled $4.90 higher at $303.30 per short ton. May soyoil
finished 17 points higher at 33.27 cents per pound. The potential for increased
U.S. export demand due to uncertainty about exports from Argentina served as
the catalyst to underpin prices, a CBOT floor analyst said.
This is usually the time when world buyers shift their buying interest to
South American origins, he added.
Argentina is the world's third largest producer of soybeans, and the global
leader in meal and oil exports.
A quiet news front allowed for nearby contracts to quickly shake off early
profit-taking pressure, as supply concerns took center stage in the absence of
a definitive outside market influence.
The stock market hovered over the course of the day and crude oil posted only
modest declines, traders said.
Meanwhile, the soybean market increased its inverse, as outlooks for a
sizable jump in 2009 U.S. soybean acreage coupled with old crop demand
potential, helping the new crop November future lose ground to nearby
contracts.
The traditional old crop/new crop - July/November - spread widened out to a
67 1/4-cent inverse Tuesday, up from Monday's 56 1/2-cent inverse.
Looking ahead, with the Argentina strike playing out, traders will keep a
close eye on outside financial markets for aid in determining near term
direction, a CBOT floor broker said.
In pit trades, speculative fund buying was estimated at 3,000 lots.
SOY PRODUCTS
Soy product futures ended higher, supported by demand prospects on
assumptions that a prolonged strike by Argentina farmers could aid the U.S.
export picture, analysts said. Soymeal managed to gain product share at the
expense of soyoil, supported by the realignment of product spreads.
Soyoil was pressured by spillover weakness from crude oil, but still managed
to end higher despite a session filled with two-sided action, traders said.
In pit trades, speculative fund buying was estimated at 1,000 lots in
soymeal.
May oil share ended at 35.42%. The May crush ended at 66 1/4 cents.
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