September soyabean futures were down 21 cents at $13.20 per bushel, November was down 20-1/2 at $13.27-1/2. Profit-taking after two-week rally weighs on soya prices, along with weak crude oil and firm dollar. Outlooks for rain in the US over the weekend add pressure. But some of the forecasts indicate only light rainfall.
Pro Farmer estimates 2008 US soya crop 2.930 billion bushels, below USDA's August forecast for 2.973 billion. Traders said Pro Farmer estimate mildly supportive for soya prices but the immaturity of the crop leading to uncertainty about final 2008 production. Some rain forecast for US Midwest next week but the outlook is uncertain amid volatile Tropical Storm Fay. Showers this week missed some dry areas in the crop belt.
Iowa soya yield potential down from 2007 - Pro Farmer tour. US cash soya steady; farmer selling slow. September contract trading between key support at 200 day moving average of $12.99 and key resistance at 100 day MA of $13.77. September soyameal was down 60 cents at $357.10 per ton. Following soyabeans. September soyaoil was down 1.24 cents at 54.32 cents per lb.
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