Feedback
Soybean Market Report
Fri 10 Feb 2012 14:48:01 CT
Related Keywords: Agriculture
Related Keywords: Agriculture
Soybean Complex Market Recap
March Soybeans finished up 1 1/2 at 1229, 1 3/4 off the high and 14 up from the low. May Soybeans closed up 1 1/2 at 1237 1/2. This was 14 1/4 up from the low and 1 1/2 off the high. March Soymeal closed down 1 at 320.0. This was 3.8 up from the low and 1.0 off the high. March Soybean Oil finished down 0.01 at 52.53, 0.08 off the high and 0.69 up from the low. March soybeans closed 1 1/4 cents higher on the session and 3 1/2 cents lower for the week. 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. 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. Talk that parts of southern Brazil are still warm and dry helped to support the market late in the day to close higher on the session. 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.
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.
