CHICAGO: US soybean futures fell 1.5 percent on Tuesday on a profit taking setback after rallying to a 15-month high during the overnight trading session.
Soymeal and soyoil futures also weakened. Soymeal's lower close snapped a six-session streak of gains.
Soyoil fell for the fifth straight day, with the most actively traded contract hitting its lowest since March 14.
A sharp drop in the crude oil market added pressure to the soy complex.
Losses were kept in check by concerns about the South American crop.
Closely watched crop forecaster Informa Economics on Tuesday lowered its outlook for the Argentine bean crop to 55.0 million tonnes from 59.5 million. It also trimmed its Brazil soybean production view to 100.1 million tonnes from 100.5 million.
Traders also noted support for CBOT July soybeans at the 10-day moving average, which the contract has not closed below since April 7.
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