Soyabean futures at the Chicago Board of Trade were lower at Wednesday's midsession on profit taking ahead of the US Thanksgiving holiday, traders said. But the overall tone of the market was choppy and mixed in pre-holiday trade.
The markets will close early at noon CST (1800 GMT) before Thursday's holiday. They reopen on Thursday night for the electronic session. January soyabeans were down 2-1/2 cents a bushel at $10.84-1/2 by 10:45 am CDT (1645 GMT).
The deferreds were down 5-1/4 to up 2-1/4 cents. The products were mixed. Soyaoil was up 0.16 to down 0.07 cent per lb - bouncing from its early lows amid pre-holiday positioning and the rally in wheat.
December soyaoil was up 0.04 cent at 45.76 cents after rising overnight to 46.00 cents, a 33-year high for a spot contract when it tracked the strength in crude oil. December soyameal was down $1 at $289 a ton, with the backs down $1.70 to up $2.70. In export news, Taiwan bought 16,000 tonnes of US soya and 29,000 tonnes of corn.
Drier weather in Brazil's Rio Grande do Sul and Parana soya region improved planting conditions, DTN Meteorlogix said. Midwest spot basis bids were steady early Wednesday with sales slow before the holiday, dealers said.