Chicago Board of Trade (CBOT) soybean futures ended slightly lower on Monday, as traders waited for more U.S. soybeans to be exported to China.
According to U.S. Department of Agriculture, China purchased more than 2.7 million metric tons of U.S. soybeans in the past two weeks. Traders had expected that China would buy more soybeans, market watchers said.
U.S. farmers hope China will buy other farm products, such as corn and grain sorghum, along with soybeans. However, there were no sales confirmed on Monday.
CBOT wheat futures rose on investors' short-covering, while corn futures were under pressure on weak demand from overseas markets.
At the end of the session, the most active corn contract for March delivery went down 0.75 cent, or 0.20 percent to close at 3.7775 dollars per bushel. March wheat delivery was up 2.5 cents, or 0.49 percent to close at 5.165 dollars per bushel. March soybean delivery was down 0.75 cent, or 0.08 percent to close at 8.97 dollars per bushel.
According to U.S. Department of Agriculture, China purchased more than 2.7 million metric tons of U.S. soybeans in the past two weeks. Traders had expected that China would buy more soybeans, market watchers said.
U.S. farmers hope China will buy other farm products, such as corn and grain sorghum, along with soybeans. However, there were no sales confirmed on Monday.
CBOT wheat futures rose on investors' short-covering, while corn futures were under pressure on weak demand from overseas markets.
At the end of the session, the most active corn contract for March delivery went down 0.75 cent, or 0.20 percent to close at 3.7775 dollars per bushel. March wheat delivery was up 2.5 cents, or 0.49 percent to close at 5.165 dollars per bushel. March soybean delivery was down 0.75 cent, or 0.08 percent to close at 8.97 dollars per bushel.
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