CBOT soybeans fall to 3-month low on fund sales, weather

CHICAGO: Chicago Board of Trade soybean futures fell more than 2 percent to their lowest levels since April on Monday, pressured by favorable extended forecasts for the developing crop in the United States, traders said.

Liquidation from investment funds, which still had a net long stake in soybeans, further weighed on prices.

August is seen as the most critical month for determining soybean yields for the US crop and extended weather outlooks reaching into August indicated at least normal amounts of precipitation, analysts and agriculture meteorologists said.

Soymeal and soyoil futures also eased 2 percent or more, following declines in soybeans.