CHICAGO: Chicago Board of Trade soybean futures closed lower Monday on technical selling ahead of monthly supply/demand reports due Tuesday from the US Department of Agriculture, traders said.
CBOT November soybeans settled down 2 cents at $9.60 per bushel.
CBOT December soymeal ended down $1.60 at $303.60 per short ton while December soyoil rose 0.21 cent at 35.15 cents per pound, led by strength in Malaysian palm oil futures.
Traders shrugged at news of fresh US export business. The USDA, through its daily reporting system, said private exporters sold 352,000 tonnes of US soybeans to unknown destinations.
The USDA also reported export inspections of US soybeans in the latest week at 1.1 million tonnes, topping a range of trade expectations.
Ahead of the USDA's weekly crop progress report, analysts expected the government to rate 60 percent of the US soybean crop in good to excellent condition, down from 61 percent the previous week.
The CBOT reported no deliveries against the September soybean futures contract, which expires on Thursday. The exchange reported 75 September soymeal deliveries and 399 soyoil deliveries.
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