Chicago Board of Trade soyabean futures closed lower on Monday after a back-and-forth session, as end-of-month positioning and spillover weakness from corn futures dragged on the market, traders said.
Soyameal and soyaoil futures also declined.
CBOT July soyabean futures settled down 3 cents at $8.36-1/2 per bushel. CBOT July soyameal ended down $1.10 at $291.50 per short ton while CBOT July soyaoil fell 0.03 cent to finish at 25.47 cents per pound.
China's March soyabean imports from top supplier Brazil fell 24.8% from a year earlier, customs data showed on Sunday, after rains delayed cargoes. The world's biggest soyabean buyer imported 2.1 million tonnes soyabeans from Brazil, down from 2.79 million tonnes in March of last year, data from the General Administration of Customs showed.
The US Department of Agriculture's (USDA) weekly crop progress report should show that farmers were able to plant 22% of their intended corn acres as of Sunday, according to the average estimate in a survey of 12 analysts on Monday. Trade estimates for the week ended April 26 ranged from 18% to 27%.
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