Feedback
Soybean Market Report
Fri 10 Feb 2012 10:42:00 CT
Related Keywords: Agriculture
Related Keywords: Agriculture
Mid-Session Soy Complex Market Report
March soybeans opened 10 3/4 cents lower on the session at 1216 3/4 and established an early range of 1215 to 1223. A negative tone to outside market forces plus follow-through selling from yesterday's weak technical action helped to drive the market moderately lower on the session early today. A surge higher in the US dollar and weakness in energy and metal markets helped to pressure soybeans and other commodity market early in the session. Talk of improving weather in South America added to the negative tone. Talk of increased risk of Greek default helped to pressure the market as well. Private exporters reported a sale of 120,000 tonnes of US soybeans to China this morning which helped to provide some underlying support. The market found support on the early break to a 5-session low and the market managed to bounce to just slightly lower on the day into the mid-session. March meal pushed to the lowest level this month on the early break.
View All Market Commentary
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.
