CBOT soybeans rebound slightly after selloff

2 thg 12, 202219:31 UTC

Chicago Board of Trade soybean futures rebounded modestly on Friday after a steep selloff the previous session related to disappointing U.S. biofuels targets.

CBOT January soybeans (SF3) settled up 8-3/4 cents to $14.38-1/2 per bushel.
January soyoil (BOF3) lost 2.16 cents to settle at 65.22 cents per pound. CBOT January soymeal (SMF3) added $2.50 to $424.10 per short ton.
Traders said soybeans were consolidating after finding technical support just above Thursday's low of $14.25-1/4.
Statistics Canada lowered its estimate of the country's canola crop to 18.2 million tonnes from 19.1 million previously.
Prolonged drought in Argentina has left over a third of early planted soybeans in the country's core farming region in regular-to-poor condition, the Rosario grains exchange said late Thursday.