RTRS: CBOT early call-Soy down 5-7 cents on long liquidation
May 2 (Reuters) - Soybean futures on the Chicago Board of
Trade were called 5 to 7 cents per bushel lower Wednesday on
long liquidation following last week's near four-year high and
pressure from a stronger U.S. dollar, traders said.
* Soymeal was called $2 per ton lower but soyoil was called
0.30 cent per lb higher, on track to halt a four-day sell-off.
* The trend for soybeans in Globex trade overnight was down
4-3/4 to 6 cents per bushel, with benchmark July last down
6 cents at $14.97-1/2 per bushel. July soymeal was down
$1.90 a ton and July soyoil was up 0.27 cent per lb.
* The U.S. dollar index rose, indicating less
investor appetite for risky assets such as commodities, as a
weaker euro zone report sparked renewed worries about the
region's fiscal health and new U.S. payrolls data fell short of
expectations.
* USDA confirmed sales of 204,000 tonnes of U.S. soybeans to
unknown destinations for delivery in 2012/13.
* USDA also confirmed sales of 30,000 tonnes of U.S. soyoil
to China for delivery in 2011/12.
* CME to expand CBOT grain and oilseed trading hours on its
electronic Globex platform beginning on May 14.
* Soggy weather for at least the next 10 days in the U.S.
Midwest will slow corn and soybean seedings, but add valuable
moisture to soil. "It looks like pretty narrow window of
opportunities for planting for the next 10 days," said Jason
Nicholls, meteorologist for AccuWeather.
8:20 AM CDT LAST NET PCT LOW HIGH CURRENT
CHNG CHNG VOL
Soy MAY 1493.00 -4.75 -0.3 1488.00 1495.50 585
Soy JUL 1497.50 -6.00 -0.4 1492.25 1501.75 10,622
Meal MAY 431.20 -1.30 -0.3 429.00 432.60 566
Meal JUL 432.30 -1.90 -0.4 430.20 434.40 5,134
Soyoil MAY 54.79 0.27 0.5 54.57 54.80 1,668
Soyoil JUL 55.18 0.27 0.5 54.95 55.25 15,037
