US soyabean futures closed lower on Monday, weighed down by a firm dollar, lower crude oil, plentiful global stockpile of oilseeds and outlooks for a potential bumper 2010 US soyabean crop. CBOT July down 12-1/2 cents at $9.41 per bushel; new-crop November down 9-3/4 at $9.16-1/2. Funds sold 3,000 contracts.
Soyabean plantings estimated at 43.2 percent complete in analyst poll, up from 30 percent last week. Argentine farmers gather soya, weather helps. Managed funds slash net long in CBOT soyabeans during week ended last Tuesday, said CFTC. CBOT July soyameal down $2.90 per ton at $273.90 per ton. Following soyabeans lower. Funds were even.
CBOT July soyaoil down 0.38 cent at 37.13 cents per lb. Following soyabeans, with additional pressure from declines in crude oil. Funds sold 1,000 contracts. Malaysian palm oil at lowest in nearly four months as crude oil falls.