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Chicago soybean futures extend losses

2019-03-12 06:06

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CHICAGO, March 11 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures settled lower on Monday, with soybeans extending losses despite newly confirmed large purchases from China.
The most active soybean contract for May delivery was down 5.75 cents, or 0.64 percent to close at 8.90 U.S. dollars per bushel. May wheat was down 11 cent, or 2.5 percent, to settle at 4.285 dollars per bushel. May corn was down 2.25 cents, or 0.62 percent, to close at 3.62 dollars per bushel.
The U.S. Department of Agriculture (USDA) on Monday confirmed sales by private exporters of 926,000 metric tons of soybeans for delivery to China during the 2018/19 marketing year, which began on Sept. 1.
However, the huge export sales failed to boost CBOT soybean futures, said analysts, as market participants still await the final outcome of the U.S.-China trade talks.
CBOT wheat suffered a double-digit fall, amid renewed funding selling over rising U.S. stocks.
In the latest monthly supply and demand report, the USDA forecast larger U.S. wheat supplies, lower exports, reduced domestic use, and higher ending stocks for 2018/19 marketing year.
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