Chicago Board of Trade soyabean futures extended losses midday Wednesday amid continued technical fund selling that took new-crop November to a seven-month low, traders said.
Ideal crop conditions in the Midwest were sparking the selloff, traders said. At 12.30 pm CDT, CBOT November soyabeans were down 32 cents per bushel at $6.15 a bushel. Funds had sold more than 4,000 contracts by midday, traders said.