Soybean Prices Rise as China Buys and Market Awaits Data
Soybean futures closed higher Wednesday. The USDA reported a large sale to China. Traders are looking ahead to upcoming data on exports and crushing.
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Soybean futures closed higher Wednesday. The USDA reported a large sale to China. Traders are looking ahead to upcoming data on exports and crushing.
Cotton futures rose slightly on Wednesday, with March contracts up 11 points. The Seam auction recorded sales at 60.08 cents/lb, while crude oil and the US dollar index declined.
Cotton futures traded steady to lower Tuesday with front months down 3 points. The Seam auction recorded 21,284 bales at 60.09 cents/lb. ICE certified stocks fell 481 bales to 11,029 bales.
Corn futures fell 1 to 3.5 cents Tuesday after sharp Monday losses. South Korean importers purchased 264,000 MT overnight, with another tender issued. Brazil's January corn exports are projected higher.
Cotton futures gained 50-55 points Monday after USDA data revealed lower production and ending stocks, with ginnings down from a year ago.