CBOT soybeans close lower after USDA stocks report

By Reuters News

CHICAGO, Sept 30 (Reuters) - Chicago Board of Trade soybean futures closed lower on Wednesday after the release of a closely watched government stocks report, but prices stayed above the four-week low seen earlier this week.

  • The US Department of Agriculture reported that US farmers and grain handlers had 315 million bushels of soybeans in storage as of September 1, down 3% from 325 million a year ago.

  • The agency was expected to report US soybean stocks at 324 million bushels on September 1, according to a Reuters survey of analysts.

  • CBOT November soybeans closed down 4-3/4 cents at $12.93 per bushel.

  • CBOT December soymeal fell $2.10 to finish at $356.90 per ton.

  • CBOT December soyoil settled down 0.08 cent at 68.28 cents per pound.

  • Early in the session, traders spent their time positioning ahead of the US Department of Agriculture's quarterly stocks report.

  • Additional support stemmed from harvest delays in key Midwest states including Iowa, although forecasters predicted improving weather after Friday.

  • Under its daily reporting rules, the US Department of Agriculture confirmed private sales of 105,000 metric tons of US soybeans to unknown destinations for delivery in the 2026/27 marketing year that began September 1.

  • Rain is set to continue to disrupt US soybean harvesting, according to forecasters. Analysts said there could be a risk of rain to damage the crop by causing it to sprout.

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