Soyabean futures at the Chicago Board of Trade turned lower within the first 30 minutes of Tuesday's session as speculators took profits after an early rally, floor traders said. CBOT soyabean futures were 5 to 10-1/4 cents per bushel lower by 10:30 am CDT (1530 GMT). August was down 6 at $6.63 and new-crop November was 11 lower at $5.86.
Funds and local traders were selling soyabeans, with Cargill Investor Services featured selling 800-900 November, traders said.
The 27-year low in US soya stocks and a step-up in Midwest processor bids gave old-crop August an early boost, while new-crop November was lifted by 11- to 15-day outlooks for hotter, drier Midwest weather, traders said.
November ran up 10 cents and traders took profits. The weakness in the new-crop months dragged August lower.
Soyameal futures followed beans lower, down $4.80 to $1.50 per ton. August was hit the hardest - $4.80 at $207.00 as futures remain pressured by a weak US soyameal market.
CBOT soyaoil futures were 0.04 to 0.19 cent per lb lower, with August down 0.04 at 24.45 cents, taking their cue from soyabeans.
Malaysian palm oil futures closed mixed. Concerns about a smaller oilseed crop in India to due poor monsoon rains remains supportive to both palm oil and soyaoil futures.