US soybean futures on the Chicago Board of Trade dived on Thursday moving lower in tandem with crude oil and soyoil, traders said. July soybeans ended 24-1/4 cents lower at $13.24-3/4 per bushel. July soyoil closed 1.42 cent per lb weaker at 61.83 cents; July soymeal settled $4.50 per ton down at $328.
Soybeans and soyoil have been tracking the moves in crude oil, which hit a record top for three straight days, including Thursday when it rose above $135 a barrel. Profit-taking set in once it hit that level. US soymeal export sales from last week hit 158,200 tonnes (151,400 for 2007/08), USDA said. That was above estimates for 75,000 to 150,000 tonnes. US soyoil sales were strong at 46,400 tonnes (all old-crop), above estimates for 10,000 to 20,000 tonnes.
US Census monthly crush data was supportive for soybeans while soymeal and soyoil stocks were bigger than analysts expected. Census said 149.25 million bushels of soybeans were crushed in April vs estimates for 145-147 million. That was below the 155.96 million crushed in March. US April soymeal stocks were 342,928 short tons, Census said.
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