US soybean market delivery volume increased and the basis generally fell
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Last Update: 2008-11-03
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Source: Internet
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Author: User
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Introduction: soybean basis prices continued to fall on Tuesday in the US Midwest spot market as farmers delivered more With soybean prices rising to a multi-month high, many U.S soybean growers are busy selling soybeans However, the general weakness of soybean basis partially offset the rise of futures prices Analysts said concerns about lower soybean yields in Brazil and Argentina supported the rebound This is also an opportunity that farmers have been looking forward to On Tuesday, soybean stocks at the main grain buying sites in the interior of the United States were 16% higher than a week ago As the price of soybean, wheat and corn in CBOT soared and the sales of farmers increased significantly, barge freight also rose Barge rates on the Mississippi, Illinois and Ohio rivers rose 30 basis points this week Chicago soybean futures surged on Tuesday, ending up 24.5 cents at 577 cents a bushel in March and 27.25 cents at 583 cents a bushel in May
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