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CBOT soybean futures settle firm, soyoil slips

3 Dec 2022 8:33 am
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Mumbai, Dec 3 (Commoditiescontrol) CBOT soybean futures settled a tad up on Friday after a steep selloff the previous session related to disappointing U.S. biofuels targets.


CBOT January soybeans settled up 8-3/4 cents to $14.38-1/2 per bushel.

January soyoil lost 2.16 cents to settle at 65.22 cents per pound. CBOT January soymeal added $2.50 to $424.10 per short ton.

As per the trade analysts, soybeans were consolidating after finding technical support just above Thursday's low of $14.25-1/4.

Statistics Canada lowered its estimate of the country's canola crop to 18.2 million tonnes from 19.1 million previously.



Prolonged drought in Argentina has left over a third of early planted soybeans in the country's core farming region in regular-to-poor condition, the Rosario grains exchange said late Thursday.


       
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