Chicago Board of Trade soyabean futures declined on Tuesday for a second straight session, pressured by improved crop weather in the US Midwest coupled with questions about export demand, traders said. CBOT August soyabeans settled down 10 cents at $8.79-3/4 a bushel after dipping to $8.79-1/4, the contract's lowest since June 12.
CBOT August soyameal ended down $1.50 at $305.70 per short ton and August soyaoil fell 0.32 cent to 27.81 cents per pound. The US Department of Agriculture late on Monday rated 54% of the US soyabean crop as good to excellent, unchanged from the previous week, while analysts on average had expected an improvement. The USDA said the US soyabean crop was 92% planted, lagging the five-year average of 99% and just behind the average analyst expectation of 93%.
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