May soyabeans was down 4-3/4 cents at $13.40 per bushel, new-crop November down 8 at $12.65-1/2. Choppy, setting back from early strength on profit-taking and scarce bullish news. Early support stems from strong US export prospects due to a slowed soya export pace out of South America. Rains slow Brazilian harvest; improved weather in Argentina.
USDA reported US soyabean export sales for last week 477,600 tonnes (477,000 for 2007/08), within trade estimates. Cash basis bids for soyabeans steady in US Midwest interior, weak at rivers. May soyameal up 50 cents at $340.50 per ton.
Big demand for protein keeps market buoyant. USDA reported US soyameal export sales for last week 176,500 tonnes (176,100 for 2007/08), above trade estimates. May soyaoil was down 1.15 cents at 60.38 cents per lb. Following a retreat in crude oil after record high in early Nymex trade.
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