GRAINS-Soybeans retreat from August peak, corn prices mixed

lunes 4 de abril de 2016 16:53 GYT

* Traders take profits in soybean market

* Corn feels pressure from increased U.S. plantings forecast

* USDA delays national crop progress report until Tuesday (Updates to U.S. market close, previous dateline HAMBURG/SINGAPORE)

By Tom Polansek

CHICAGO, April 4 (Reuters) - U.S. soybean futures slumped on Monday as traders took profits after prices reached their highest point since August on technical buying and last week's government forecast for lower-than-expected plantings.

Corn prices ended mixed as traders digested the U.S. Department of Agriculture's (USDA) estimate for much larger-than-expected U.S. plantings of the yellow grain.

Most-active May wheat slid 1 cent to $4.74-3/4 a bushel at the CBOT.

"The large acreage increases, even if they are a bit overstated, are still going to be a big problem for the corn market," said Tomm Pfitzenmaier, analyst for Summit Commodity Brokerage in Iowa.

Chicago Board of Trade most-active May soybeans ended down 4-3/4 cents to $9.13-1/2 a bushel. The contract earlier hit a session peak of $9.22-1/4, the highest price since Aug. 17.   Continuación...