U.S. soybeans extend gains on production concerns over South America weather

  • 12/22/2021
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BEIJING, Dec 22 (Reuters) - Chicago soybeans extended gains to a seventh session on Wednesday, scaling a more than three-month high, as dry weather in South America"s crop growing areas stokes output concerns. The most-active soybean contract on the Chicago Board of Trade (CBOT) was last up 0.3% at $13.16-3/4 per bushel around 0300 GMT on Tuesday. Meanwhile, corn was flat at $5.98 a bushel and wheat was down 0.2% at $7.98 a bushel after gaining nearly 3% in the last trading session. European Union soybean imports in 2021/22 reached 5.97 million tonnes while soft wheat exports reached 13.36 million tonnes by Dec. 19, according to data published on Tuesday by the European Commission, which said that figures for France were incomplete. Iranian state agency the Government Trading Corporation has issued another international tender to purchase about 180,000 tonnes of milling wheat, European traders said on Tuesday. Iranian state-owned animal feed importer SLAL has issued international tenders to purchase up to 60,000 tonnes of animal feed barley, 60,000 tonnes of feed corn and 60,000 tonnes of soymeal, European traders said on Tuesday. Turkey"s state grain board, TMO, has purchased 320,000 tonnes of milling wheat in an international tender that closed on Tuesday, traders said. Commodity funds were net buyers of Chicago Board of Trade corn, wheat, soybean, soymeal and soyoil futures contracts on Tuesday, traders said. COMFUND/CBT Reporting by Emily Chow; Editing by Vinay Dwivedi Our Standards: The Thomson Reuters Trust Principles.

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