CBOT soybeans drop on profit taking, poor exports

imageCHICAGO: US soybean futures closed lower on Thursday, pressured by weak export demand for US supplies and some profit taking ahead of a holiday weekend, traders said.

Soymeal futures also dropped, with the benchmark Chicago Board of Trade May contract falling below its 50-day moving average before finding support at its 20-day moving average.

Soyoil firmed on end-of-week short covering.

For the week, CBOT soybeans rose 1.8 percent, largely due to a government forecast for plantings that fell below market expectations.

Copyright Reuters, 2015

You may also like...

Rules of Discussion on CBOT soybeans drop on profit taking, poor exports

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.
4. Providing Advice/Recommendations/Tips is fine but it should be free. Members cannot ask to be paid for it. Paid Advice is stricly prohibited
5. Spam links are not allowed. Self-promotion once a week is allowed. Too much promotion or using Contact info in ID will lead to account ban.