Soybeans fall, snap winning streak on disappointing biofuel levels


Soyoil selloff takes soybeans down too after U.S. releases biofuel targets


Wheat falls on disappointing export sales


Soy weakness weighs on corn

By Rod Nickel

WINNIPEG, Manitoba, Dec 1 (Reuters) - Chicago soybeans fell on Thursday, snapping five days of gains as soybean oil sold off sharply after the U.S. government proposed smaller-than-expected biofuels blending requirements.

Wheat slid on disappointing export sales, while soybean weakness dragged corn lower.

The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 settled down 39-3/4 cents or 2.7% to $14.29-3/4 per bushel after climbing to its highest level since Sept. 21 on Wednesday.

Front-month December soyoil BOc1 , in delivery mode, plunged 9%. Most-active contracts fell their daily limit.

The U.S. Environmental Protection Agency proposed smaller increases than traders expected in the amount of ethanol and other biofuels that oil refiners must blend into their fuel over the next three years.

Production of renewable diesel, which can be made from soyoil, is growing, "but not at the unrealistic pace expected by fund managers," said Arlan Suderman, StoneX chief commodities economist.

Soyoil also was vulnerable to selling because it had built a big premium over palm oil, and because funds held long positions, said Jim Gerlach, president of A/C Trading.

"(Soy) oil, which has been the shining star for quite some time, is taking it on the chin."

Soybeans and wider commodity markets had been buoyed by signs China was softening its tone on COVID-19 rules after rare public protests in the world's second-largest economy.

CBOT wheat Wv1 shed 12-1/2 cents to settle at $7.83 per bushel amid tough competition from Russian and Black Sea supplies, and corn Cv1 gave up 6-1/2 cents to settle at $6.60-1/2 per bushel.

The U.S. Agriculture Department (USDA) said export sales of wheat totalled 162,500 tonnes in the week ended Nov. 24, below the low end of analysts' forecasts that ranged from 300,000 to 725,000 tonnes.

USDA reported weekly corn export sales of 632,700. The market had expected 475,000 to 1.1 million tonnes.
Reporting by Rod Nickel in Winnipeg, Julie Ingwersen and Mark Weinraub in Chicago, Gus Trompiz in Paris and Naveen Thukral in Singapore; Editing by Subhranshu Sahu, Uttaresh.V, Sherry Jacob-Phillips, Mark Porter and David Gregorio

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。


本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。