Soyabean futures on the Chicago Board of Trade declined modestly early on Monday, pressured by a firm dollar, a weak tone in crude oil and beliefs that the market was technically overbought, traders said. Wheat fell and corn turned firm as traders adjusted positions ahead of the US Department of Agriculture's monthly supply/demand reports on Tuesday.
Analysts expect the USDA to lower its estimate of the US 2010 corn harvest and raise its estimate of the soyabean crop. CBOT trends at 10:10 am CDT (1610 GMT) on Monday: December wheat down 1-3/4 cents at $7.27 a bushel. December corn up 1-1/4 cents at $5.89 a bushel. November soyabeans down 1/2 cent at $12.73 per bushel; January down 1-1/2 at $12.82-1/2.