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Mid-Session Soy Complex Market Report
Wed 22 Feb 2012 11:42:01 CT
Related Keywords: Agriculture
Related Keywords: Agriculture
May soybeans opened 5 cents lower on the session at 1272 and established an early range of 1267 3/4 to 1276. The market pushed lower on the session early in the day with talk that the rally yesterday was a bit overdone helping to pressure. A turn higher in the US dollar plus some weakness in equity and silver markets helped to provide some outside market pressure. Talk of a set-back in the Brazil soybean basis and ideas that weather in South America is improving was also seen as a slightly negative force. The USDA confirmed a sale of 175,000 tonnes of US soybeans to China for the 2012/13 season.
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