On June 7, according to media reports, the CBOT soybean futures market closed up moderately, with the benchmark period closing about 0.20% higher.
Traders adjusted their positions as the U.S. Department of Agriculture was due to release its June supply and demand report on Friday.
The U.S. Department of Agriculture’s crop progress report released on Monday showed 62 percent of soybeans were in excellent to good condition as of June 4, below analysts’ forecast of 65 percent.
Crop expert Dr. Michael Cordogne maintained this year’s U.S. soybean yield unchanged at 52 bushels per acre, out of a forecast of 4.53 billion bushels.
Private exporters reported selling 165,000 tonnes of soybeans to Spain for delivery in 2022/23, the U.S. Department of Agriculture said early Tuesday.
