1. Last month, the exchange launched a soybean contract, in an effort to lure South American soybean producers away from the Chicago market. 2. Lawmakers asked the Justice Department to determine whether there are any anticompetitive effects stemming from a proposed plan to overhaul the way corn and soybean futures contracts are settled. 3. The Chicago Board of Trade may lose some of its business in trading soybean futures to a Brazilian exchange that recently launched a soybean contract. 4. The record-large crops should result in heavy deliveries against the November soybean contract, analysts said. 5. Trading in August soybean contracts ends tomorrow, with no notices of pending deliveries volunteered to date, according to the CBOT. 6. Traders had sold soybean contracts Friday for fear they would be caught with losses if demand waned. 7. Traders may sell soybean contracts and either buy or hold on to corn contracts, analysts said. 8. Tuesday was first notice day for the November soybean contract, which marks the start of the delivery process. 9. While the new crop will replenish supplies, soybean contracts with nearby deliveries rose because of the tight supply outlook ahead of the harvest. 10. Analysts also suggested that traders with long positions, obligating them to take delivery, were bailing out on the eve of the expiration of the November soybeans contract. |
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