Chicago Board of Trade soyabean futures set a one month low on Wednesday under pressure from expectations for a massive harvest in rival supplier Brazil, traders said.
A lack of new demand from China loomed over the market, traders said.
Beijing pledged to increase imports of US farm products in an initial trade deal with Washington last week. Traders say there have been no confirmed sales, though.
"China has already booked most of their import needs into April and given the large soyabean crop in South America offered at cheaper prices, it may very well be late summer before that Chinese business comes back to the US in any significant way," said Tomm Pfitzenmaier, analyst for Summit Commodity Brokerage.
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