March 26 CBOT soybean assessment date: Close up

Beijing Lin PETROFER message March 27: March 26, Chicago Board of Trade (CBOT) closed up oil market, primarily due to soybean meal and soybean oil arbitrage unlock support.

As of closing, CBOT soybean oil rose 0.20 cents to 0.23 cents range, one of the contract in May rose 0.23 cents to close at 33.60 cents / pound; July contract rose 0.21 cents to close at 33.88 cents / pound; 8 month contract rose 0.21 cents to close at 34.04 cents / lb.

Analysts said the soybean meal and soybean oil market arbitrage adjust for seasonal trends. Export demand for soybean oil, but will also support the oil price.

According to the United States Department of Agriculture released weekly export sales report showed that, as of March 19, 2009 a week, net sales of soybean oil for the United States 48,600 tons, a record high this year, the main buyers for the Chinese, the number of 31,000 tons. 2009/10 net sales of 1,200 tons.

The United States Bureau of Statistics survey released in February showed soybean processing, oil inventory by the end of February was slightly lower than expected for the 3.027 billion pounds.

Speculative funds bought 1,000 contracts.

March 26, soybean oil market turnover is estimated at 61,247 in hand, empty hand set was 204,937.

(Li Lei for reference only)