U.S. soybean futures end lower on rising supplies, uncertain export prospect

0 Comment(s)Print E-mail Xinhua, November 7, 2019
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CHICAGO, Nov. 6 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures settled mixed on Wednesday, with soybean futures dipping on rising supplies and uncertain export prospect.

The most active wheat contract for December delivery added 1.5 cents, or 0.29 percent, to settle at 5.1675 U.S. dollars per bushel. December corn was down 3 cents, or 0.79 percent, to settle at 3.7875 dollars per bushel. January soybeans fell 6.75 cents, or 0.72 percent, to 9.275 dollars per bushel.

Soybean futures slumped on rising supplies from the ongoing U.S. harvest and concerns about delay of new purchases by foreign buyers.

Wheat futures headed higher for a second session on technical buying and concern about the size of Australia's crop.

Commodity brokerage INTL FCStone on Wednesday said a poll of its clients estimated Australia's 2019/20 wheat crop at 15.54 million metric tons, 19.1 percent lower than Australia's official estimate of 19.2 million metric tons.

Corn futures weakened on harvest pressure and dull demand for U.S. crop supplies. Enditem

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