May soyabean futures were down 1-1/2 cents at $12.82 per bushel, new-crop November up 6-1/2 cents at $12.03. Choppy. Nearbys pressured by ideas that Argentine farmers may extend strike truce. New-crop contracts supported as corn/soya spreads correct.
Oil World says Brazil 2008 soya crop smaller than expected. Showers slow Brazilian soya harvest, no weather concerns in Argentina.US cash soyabean basis firms. May soyameal was down $1 at $330.30 per ton. May soyaoil was down 0.45 cent at 57.30 cents per lb. Declines in crude oil and soyabeans lend pressure. Oil World reported that China will import more palm oil.