Chicago Board of Trade soyabean futures closed fractionally lower on Wednesday after a see-saw trading session as technical selling offset support from worries about dry weather in portions of Argentina, traders said. CBOT January soyabeans settled down 1/2 cent at $9.92-1/2 per bushel.
CBOT January soyameal ended up $1.50 at $327.30 per short ton while January soyaoil fell 0.06 cent at 34.07 cents per pound. Light showers were expected in parts of Argentina but outlooks were drier for central areas over the next 10 days, the Commodity Weather Group said. Brazilian analysts are likely to raise their soyabean output forecasts in coming weeks as climate fears have subsided and the crop is developing well, four consultancies told Reuters this week.
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