Chicago Board of Trade soyabean futures fell more than 2 percent on Thursday, pressured by disappointing weekly US export sales data and improving harvest weather in the US Midwest, traders said. CBOT November soyabeans settled down 22-1/4 cents at $8.63-1/2 a bushel.
CBOT December soyameal ended down $7.40 at $316.30 per short ton and December soyaoil fell 0.54 cent at 29.02 cents per pound. The US Department of Agriculture reported export sales of US soyabeans in the latest week at 295,600 tonnes (old and new crop years combined), below a range of trade expectations.
The figure included cancellations of 694,400 tonnes of soyabeans sold to unknown destinations. China's soyabean imports are set to drop by a quarter in the last three months of 2018 their biggest fall in at least 12 years, as buyers curb purchases amid the Sino-US trade war and high domestic stockpiles. The USDA reported weekly soyameal export sales at 104,300 tonnes, below trade expectations, and soyaoil sales at 26,600 tonnes, above expectations.
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