Chicago Board of Trade soyabean futures fell on Thursday, led by the new-crop months in reaction to the government's June monthly crop data released before the open, traders said.
Chicago soyabeans were 5 to 17-1/2 cents per bushel lower by 11:00 am CDT (1600 GMT). New-crop November was down 16 at $6.63, while old-crop July was down 5 at $8.47.
Cargill Inc and Refco each sold roughly 500 July, traders said. Local traders were selling July and November.
July remains underpinned by a tight stock situation and a firm cash market as processors push up their bids trying to attract fresh supplies.
USDA raised new-crop end stocks to 220 million bushels, up 30 million bushels from its May forecast. The jump was partially due to a cut in expected 2004/05 exports.
USDA said export sales for soya last week were only 8,000 tonnes (old-crop/new-crop combined). That was below estimates for 25,000 to 50,000 tonnes. Soyameal futures followed soyabeans lower, down $3.00 to $5.50 per ton.
But the drop in July was limited, underpinned from better-than-expected weekly export sales and talk that a major US soya crusher was planning to cut its crush by at least 5 percent.
July was down $3.00 at $269.50. USDA's export sales report showed US soyameal sales last week (old-crop and new-crop combined) at 95,400 tonnes, above estimates for 20,000 to 50,000 tonnes.
Soyaoil futures were 0.36 to 0.52 cent per lb lower on spillover weakness from soya. Malaysian palm oil futures closed firm. USDA's export sales report showed US soyaoil sales last week at 10,100 tonnes (old-crop), above estimates for zero to 5,000 tonnes.
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