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 Soybeans fall from 2-yr high, on course for weekly gain of 1.5%

04.09.2020 (leaderpost.com) - SYDNEY — U.S. soybeans dipped on Friday, retreating from a two-year high touched in the previous session, although the oilseed was on course to post a weekly gain of 1.5% underpinned by strong demand from China.


* The most active soybean futures on the Chicago Board Of Trade are up 1.5% for the week, their fourth straight weekly gain.

* Soybeans are down 0.1% at $9.65 a bushel, after hitting a two-year high of 9.68-1/4 a bushel on Thursday.

* The most active corn futures are down nearly 1.5% for the week, their first weekly loss in a month.

* The most active wheat futures up nearly 1% for the week, their fourth straight weekly gain.

* The U.S. Department of Agriculture confirmed private exporters sold 132,000 tonnes of U.S. soybeans to China and another 318,000 tonnes to unknown destinations, all for delivery in the 2020/21 marketing year that began on Sept. 1.

* China, the world’s top soybean importer, has been seeking to combat jitters over food security. It was the top buyer of U.S. soybeans, corn, wheat and pork in the week ended Aug. 27, according to USDA data.


* The U.S. dollar steadied against major currencies on Friday as traders awaited key U.S. jobs data that may cast doubt on the strength of economic recovery from the coronavirus outbreak.

* Oil prices slipped on Friday, on track for a weekly loss, as investors’ focus shifted to lackluster demand and ample fuel supplies, offsetting support from a weak dollar.

* Asian stocks were set to open in the red on Friday, after Wall Street’s benchmarks posted their biggest one-day declines in nearly three months as new fears about the economy sent investors into bonds and safe-haven currencies. (Reporting by Colin Packham; Editing by Amy Caren Daniel)


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