Soyabean futures at the Chicago Board of Trade continued to sink early on Thursday, pressured by technical sales, traders said. Sell-stops were triggered in May in the $7.40-$7.39-1/2 range. After that, selling accelerated with the weakness in corn weighing on soya.
May soyabeans were down 14 cents at $7.32-1/2 per bushel by 11:10 am CDT (1610 GMT). The back months were down 8-1/2 to 14-1/2 cents. The products were also under pressure, with the complex and corn all hit by managed funds selling commodity positions, traders said.
CBOT soyameal was $2.50 to $5 per ton lower, with May down $4.30 at $200.80. Soyaoil was 0.25 to 0.41 cent per lb lower, with May 0.41 weaker at 32.37 cents. The Reuters/Jefferies CRB Index of 17 commodity markets fell 0.28 percent by midmorning to 315.67.