Commodity Watch: Bullish Trend in Chana, Malaysia Palm Oil Exports Tank
20/07/2015 (Indiainfoline) - CME Soybean futures finished lower by 4 to 8 cents. The August contract lost 1.7% from last Friday, down 17 cents on the week. Chinese new crop soybean export purchases are still light compared to year ago at 2.4 MMT vs. 7.0 MMT at this time last year. They continue to focus on buying South American beans for August and September shipment, with some October interest. Prices of the bean will also be under pressure on expectation of higher supply from United States after the United States department of agriculture (USDA) raised 2015â€16 United States soybean production forecast in its World Agriculture Supply and Demand Estimates report.
