Chicago Board of Trade soyabean futures closed mixed on Wednesday, with the benchmark November contract ending flat as traders squared positions ahead of key supply/demand reports due from the US Department of Agriculture on Thursday. CBOT November soyabeans settled flat at $9.73-1/4 per bushel. CBOT December soyameal ended down $1.40 at $312.90 per short ton while December soyaoil rose 0.31 cent at 34.53 cents per pound.
Analysts surveyed by Reuters expect the USDA in its supply/demand reports on Thursday to trim its forecast of US 2017 soyabean production and yield. Soyabean futures underpinned by updated midday weather forecasts that took some moisture from the US Midwest outlook. The USDA said private exporters cancelled sales of 130,000 tonnes of US soyabeans to unknown destinations for delivery in the 2016/17 marketing year that began September 1, 2016.
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