US soybean futures tumble

Soybean futures tumbled to one-month lows, dragged lower in part by disappointing U.S. government export-sales data that showed China had canceled orders.

Concerns about tightening monetary policy in China and potentially record soybean crops in South America also contributed to the declines.

The nearby March soybeans contract fell 26.5 cents, or 2.8%, to $9.255 a bushel on the Chicago Board of Trade. May, the most-actively traded contract, settled 27.5 cents, or 2.9%, lower at $9.305.

Soybean export sales for the week ended March 4 were a net reduction of 115,800 metric tons,

This entry was posted on Friday, March 12th, 2010 at 7:03 am and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed.