Chicago Soybean finishes lower on Bearish outside markets
The Chicago Soybean futures fell Tuesday on the sell-off in energy market, and some light strength in “Greenback”.
Corn extended losses on expectation of drier weather in the US Midwest.
Wheat ended a bit higher.
The most active Corn contract for July delivery fell 10.75c, or 1.5%, to close at 7.2375 per bushel.
July Wheat added 1.50c, or 0.2%, to 7.9325 per bushel.
July Soybean fell 29.25c, or 2.1%, to 13.6375 per bushel.
A trader mentioned that a combination of Bearish outside market forces, including the Silver’s sell-off on hiked margin requirements, weakness in energy and rally in the USD, all helped to add to the negative tone in the Grains pit.
Paul A. Ebeling, Jnr.
(Source: http://www.livetradingnews.com/chicago-soybean-finishes-lower-41311.htm)
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