Chicago Board of Trade soyabeans were lower on Tuesday, with nearby July at a near three-month low on speculative sales and pit rumours that soyameal would be imported immediately into the United States, brokers said.
Separately, the Wilmington Bulk LLC consortium of hogs and poultry producers confirmed on Tuesday that the first batch of its scheduled soyameal imports would arrive in the United States next week.
Wilmington Bulk has booked 100,000 tonnes of Brazilian soyameal for shipment to the United States because the company says domestic prices were too high. Consortium-member Murphy Brown LLC, a unit of Smithfield Foods Inc, has bought another 100,000 tonnes of Brazilian soyameal.
At midday, CBOT soyabeans were down 24-1/2 cents to unchanged, with July down 24-1/2 cents at $8.81, after setting a low of $8.72, the lowest level since February 20.
Man Financial and Cargill Investor Services were early sellers of July, while Refco Inc and ADM Investor Services bought July, brokers said.
CBOT soyameal was last down $7.80 per ton to up $1.00, with July down $7.80 at $283.70 per ton. Cash US soyameal basis offers were mixed on Tuesday, dealers said.
CBOT soyaoil was last down 0.72 cent to unchanged, with July down 0.72 cent at 28.88 cents. Losses were limited by a firm close in rival Malaysian palm oil futures, brokers said.