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Current Position:Home » News » Agri & Animal Products » Cereal Crops » Topic

Macro worries drag grains lower

Zoom in font  Zoom out font Published: 2012-05-31  Origin: agriculture
Core Tip: U.S. soybean futures closed lower Wednesday, pressured by macroeconomic worries and forecasts for rain in the U.S.
Soybeans still have a tight supply-demand outlook, but outside markets and technically driven profit-taking pushed down prices, traders said.


Chicago Board of Trade soybeans for July delivery ended down 13 1/2 cents, or 1.0%, at $13.73 1/4 a bushel. November soybeans fell 1/2 cent to $12.93 a bushel.

July soybean meal fell $2.60 to $409.90 a short ton, and July soybean oil fell 0.48 cent to 49.69 cents a bushel.

Worries about the health of Spanish banks renewed concerns about the euro zone's debt crisis, leading investors Wednesday to seek safe havens and avoid riskier commodities. Equities and crude oil traded lower Wednesday, and the dollar was stronger.

 
 
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