US MIDDAY: soyabeans sag on export sales data

Chicago Board of Trade soyabean futures sagged early Thursday as harvest pressure and talk of excellent early yields offset supportive weekly US export sales data, brokers said.
"Trade is relatively light, but we keep hearing reports of excellent yields," one floor broker said.
US farmers continue to report many soyabean fields that are yielding above 50 bushels per acre. That tally is well above the last US Department of Agriculture estimate of 38.5 bushels per acre.
Soyabean futures were last down 3 cents to 3-3/4 cents, with November down 3-1/4 cents at $5.35 and January down 3-1/2 cents at $5.42-3/4.
Citigroup bought 400 January, while R.J. O'Brien sold 400 November and Cargill Investor Services sold 300 November, brokers said.
Prospects for active harvesting of a large, possibly record, US soyabean crop amid mostly good US Midwest weather weighed on the market, brokers said.
CBOT soyameal futures were last down 10 cents per ton to $1.70 per ton, with October down 80 cents at $158.60 and December down $1.00 at $160.70 per ton.
Cash US soyameal basis offers were weak on Thursday, brokers said. The USDA early Thursday reported 117,800 tonnes of US soyameal were sold for export last week, above analysts' estimates for 40,000 to 70,000 tonnes.
Soyaoil futures were last down 0.05 cent per lb to 0.31 cent, with October down 0.31 cent at 21.47 cents and December down 0.31 cent at 21.40 cents.