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Latin America
Soybean futures post double-digit gains
Buying in soybean futures picked up with the start of open-outcry trade and futures posted a high-range close to finish 20-plus cents higher in May through August contracts. The rest of the market posted double-digit gains, mostly in the teens. Bull spreading was the dominant force in the bean pit today as traders recognize old-crop supplies are tight and shipping delays in South American continue to hang over the market. While the U.S. export window for beans has remained open longer than usual, it will be closing soon.
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*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.
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