CBOT soybeans plunge with heavy supplies, South American weather in focus
CHICAGO, Oct 25 (Reuters) -Chicago Board of Trade soybean futures fell sharply on large supplies and beneficial weather in South America, while traders awaited the results of the U.S. presidential elections amid worries about rising trade tensions with China under a potential Donald Trump administration, analysts said.
CBOT November soybeans SX24 ended down 8-1/2 cents at $9.87-3/4.
CBOT December soymeal SMZ24 settled down $4.60 at $305.80 per short ton and December soyoil BOZ24 fell 0.18 cent to finish at 44.15 cents per pound.
For the week however, Sv1 rose 1.83%.
The USDA confirmed private sales of 116,000 metric tons of U.S. soybeans to China for delivery in the 2024/25 marketing year that began Sept. 1.
French dairy giant Danone DANO.PA has stopped sourcing soy from Brazil and now buys from countries in Asia, its finance chief told Reuters, ahead of a European Union rule requiring companies to prove they are not sourcing from deforested land.
Reporting by Renee Hickman; editing by Diane Craft
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