Soyabean futures on the Chicago Board of Trade ended lower on Thursday, weighed down by profit-taking and a rebound in the US dollar after the market climbed to a 14-month top, traders said. Market fell despite USDA reporting a huge US weekly soyabean export sales tally of 2.017 million tonnes, above estimates for 1.15 million to 1.35 million.
Traders eyeing heavy open interest in November $12 call options, which expire Friday. November soyabeans ended down 10-1/2 cents at $12.01-1/2 a bushel, after reaching $12.23-1/2, highest spot price on continuous charts since August 2009. Another day of big volume in soyabean futures, estimated at roughly 242,000 contracts, 48 percent above the 30-day average near 164,000.
December soyameal ended down $4.40 at $333.40 a ton. December soyaoil down 0.23 cents at 48.24 cents per lb. Contract highs hit in most months for soyabeans, soyameal and soyaoil. Commodity funds were net sellers of 5,000 soyabean contracts, 2,000 soyameal and 2,000 soyaoil. USDA reported weekly sales of US soyameal at 246,700 tonnes, above estimates for 150,000 to 225,000.