US soyabean futures on the Chicago Board of Trade fell to a two-month low on Tuesday, following as the dollar rallied against the euro, pressuring crude oil, traders said. Improving US weather and rising global oilseed supplies added pressure.
The dollar hit a four-year high against the euro on ideas that Germany's ban on short-selling of some securities would encourage more traders to bet against the 16-nation currency. CBOT July soyabeans ended down 1-1/2 cents at $9.39-1/2 per bushel after falling to $9.36, the contract's lowest level since mid-March. July soyameal ended down 30 cents at $273.60 a ton. July soyaoil ended up 0.06 cent at 37.19 cents per lb, buoyed by light fund buying. USDA said the US soyabean crop was 38 percent planted, above the 35 percent five-year average. The figure was below an estimate for average seedings of 43.2 percent.
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