Soybean ends lower after USDA report
Economies.com
2020-07-10 22:19PM UTC
Soybean futures fell on Friday, following the USDA reveled its forecasts for the current crop season.
Soybean stocks are expected to reach 620 million bushels, while analysts and the US Department of Agriculture expect 585 million.
In the 2020-2021 season, soybean output is expected to reach 425 million bushels, with forecasts for 424 million, and the USDA's estimates of 395 million.
The dollar index fell against a basket of currencies by 0.1% to 96.6 points as of 22:07 GMT, after hitting a high of 96.9 and a low of 96.4.
Soybean August futures fell 1.1% to close at $8.87 per bushel, with a day high of $9.00 and a low of $8.83.
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