CBOT soybeans drop on improving US, Brazil weather

CHICAGO: Chicago Board of Trade soybean futures fell on Tuesday on expectations that the pace of the US harvest will pick up in the coming days due to dry weather in key growing areas, traders said.

Forecasts for rain in Brazil that will help foster crops through early stages of development also pressured the market.

Soymeal futures fell, following weakness in the cash market amid ample supplies.

Soyoil futures closed in positive territory as technical buyers stepped into the market when the benchmark December contract fell below its 20-day moving average during the session.