CBOT soy product futures settled lower, stumbling in step with declines in soybeans.
CBOT soybean futures ended lower, backpedaling from initial advances on speculative selling and talk of China canceling purchases of soybeans.
Talk circulating the trading floor of China canceling some cargoes of U.S. soybean purchases and shifting some other sales to the 2009-10 marketing year attracted speculative selling in CBOT soybean futures, a CBOT floor analyst says.
Sources in Argentina's Agriculture Secretariat expect the 2008-09 soy crop to total a dismal 33 million metric tons, according to a report in local daily Clarin Thursday.
Chicago Board of Trade July soybean futures on Thursday hit a fresh seven-month high of $11.31 a bushel.
Lowest known offers at 1745 local time in U.S. dollars a metric ton, bulk, with changes on the day unless otherwise stated as quoted by European traders:
Premiums and discounts for soybeans at Paranagua port, Brazil, against Chicago Board of Trade quotes.
Free-on-board prices in U.S. dollars per metric ton.
The agricultural survey group of Brazil's Census Bureau, or the IBGE, on Thursday put the 2008-09 soy crop at 57.6 million metric tons.
Brazil should harvest 57.6 million metric tons of soybeans in the new 2008-09 crop year, the National Commodities Supply Corp, or Conab, said Thursday.
India June NCDEX soybean contract provisionally ends down 0.5% at INR2,772/100 kg on sluggish export demand.
Soybean futures traded on the Dalian Commodity Exchange settled slightly higher Thursday, supported by an overnight rally on the Chicago Board of Trade.
India NCDEX June soybean contract up 0.1% at INR2,788.50/100 kg on bargain buying, tracking price uptrend overseas.
India June NCDEX soybean contract likely to open higher on fresh domestic buying.
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