CHICAGO: Chicago Board of Trade soybean futures fell Monday on pressure from the expanding US harvest and expectations of a big crop that should more than meet demand, traders said.
CBOT November soybeans settled down 11 cents at $9.57-1/4 per bushel, but stayed inside of Friday's trading range.
CBOT December soymeal ended down $2.20 at $313.60 per short ton, following soybeans lower.
CBOT December soyoil fell 0.30 cent at 32.52 cents per pound.
Ahead of the USDA's weekly crop progress report due later on Monday, analysts surveyed by Reuters on average expected the government to report the US soybean harvest as 25 percent complete.
The USDA reported export inspections of US soybeans in the latest week at 894,250 tonnes, below a range of trade expectations for 950,000 to 1,200,000 tonnes.
The USDA said private exporters sold 132,000 tonnes of US soybeans to China for delivery in the 2017/18 marketing year that began Sept. 1.
Ahead of the USDA's monthly soy crush report on Monday, analysts on average expected the government to report the US August soybean crush at 152.3 million bushels.
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