US SOYABEAN FUTURES SLUMPS ON SELLING IN OTHER COMMODITIES
Date: 21/3/2012
The CBOT Soybean complex prices closed sharply lower on Tuesday. May soybeans lost 21 1/2 cents to close at $13.45. May meal lost $5.30 to close at $365.60. May oil plunged 107 points to close at 54.33 cents. November soybeans fell 18 1/4 cents to close at $13.07 1/4.
Strong selling in other commodities and equities resulted to liquidation in soyabean market.
The CFTC released its weekly summary of positions in soybeans and many other commodities as of last Tuesday. It was revealed that the managed money category showed the big funds were net long 176,091 positions. The significance was that these positions had rebounded from a net negative in December.
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