Global EditionASIA 中文双语Français
Business
Home / Business / Finance

CBOT soybeans slide as China lowers import estimates

Xinhua | Updated: 2018-05-14 13:50
Share
Share - WeChat
Soybean futures suffered double digit losses after China, the biggest importer of US soybeans, predicted a decline in the oil seed imports for the first time in 15 years. [Photo/IC]

CHICAGO - Chicago Board of Trade (CBOT) soybeans fell sharply on Friday morning after top buyer China lowered its import estimates for 2018/19.

Soybean futures suffered double digit losses after China, the biggest importer of US soybeans, predicted a decline in the oil seed imports for the first time in 15 years.

According to the official website of China's Ministry of Agriculture and Rural Affairs, soybean imports are expected to fall 0.3 percent in 2018/19 to about 95.65 million metric tons, while the planting hectares of soybeans in China will be increased by 7.8 percent.

Meanwhile, rising US ending stocks of corn and wheat in 2017/18 continued to drag down their prices.

As of 1450 GMT, July corn was down 5.5 cents at $3.965 per bushel while July wheat was down 8.25 cents at $4.9825 and July soybeans were down 16.75 cents at $10.045 per bushel.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE