CHICAGO: Chicago Board of Trade (CBOT) soybean futures closed weaker on Thursday after trading in positive and negative territory during the session.
* CBOT August soybeans slipped 1-1/4 cents to $8.81-1/4 a bushel. New-crop November soybeans ended down 1-1/2 cents at $8.99.
* CBOT August soymeal dropped $0.50 to $307.00 per short ton, and August soyoil slipped 0.04 cent to settle at 27.64 cents per pound.
* Worries about weakened demand from China, the world's top soy importer, continued to loom over the soy complex.
* US soybean export sales last week totaled 326,300 tonnes, the US Department of Agriculture said in a report. Analysts' forecasts ranged from 100,000 tonnes to 700,000 tonnes.
* The USDA report showed that China, the world's top soy importer, canceled deals to buy 9,900 tonnes of US soybean in the week ended July 11. This was China's first weekly net cancellation of soybeans since April.
* China has reduced imports of soybeans to feed hogs as a fatal swine disease has spread through the country.
* Some grain traders were unwinding spread trades in which they were long corn and short soybeans, said Jim Gerlach, president of broker A/C Trading. This helped underpin soy futures, he said.
* Traders were also watching US crop weather, which is expected to cool down next week. However, the key development period for soybeans will not come until August, they said.?Reuters
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