Chicago Board of Trade soyabean futures slipped about 3 to 5 cents early Wednesday then recovered a bit after soyameal turned higher in a technical rebound, traders said.
"It has a meal/oil feel to it," said one cash-connected trader as firms bought soyameal and sold soyaoil.
Firmer US cash soyabean and soyameal markets underpinned prices, while soyaoil was pressured by steady to weaker crude oil markets and some concerns about the use of soya-biodiesel.
Minnesota on Friday suspended for 10 days its law requiring diesel fuel sold in the state contain 2 percent soya-based biodiesel due to quality problems with a batch of biodiesel.
"I don't think it's anything longer term but it's overhanging the market today," the trader said.
November soyabeans were off 3/4 cent at $5.73-3/4 per bushel and January was 1-1/2 lower at $5.85 by 10:22 am CST (1622 GMT). December soyameal was up 40 cents at $173.90 per ton, with deferreds up 70 cents to down 50 cents. December soyaoil was 0.07 cent weaker at 22.95 cents per lb, with back months down 0.15 to up 0.08.
The weaker open was sparked by a big US soya crop estimate by commodity brokerage firm FC Stone.
Export business remains routine and lagging a year ago pace despite steady Chinese interest in US soyabeans, traders said. Overnight business featured Taiwan buying 57,000 tonnes of US soyabeans.
There were heavy soya deliveries of 693 against the November contract on Wednesday.
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