Chicago Board of Trade soyabean futures dropped for the third straight day on Wednesday on harvesting of a likely bumper South American soyabean crop and fund long-liquidation ahead of the release on Thursday of USDA's March supply/demand and crop production reports. Funds sold an estimated net 6,000 contracts.
CBOT soyabean futures for March fell 31 1/2 cents to $13.44 a bushel in volume of 1,897 lots, trading in a range of $13.43 to $13.77-1/2. May fell 33 cents to $13.49 a bushel. Total volume of 187,616 was 15 percent below the 30-day average. CBOT soyabean meal futures for March fell $6.90 to $348.50 a ton in volume of 1,885 lots, trading in a range of $348.50 to $355.50.
May fell $7.50 to $352.90 a ton. Total volume of 65,714 was 8 percent below the 30-day average. CBOT soyabean oil futures for March fell 1.30 cents to 56.67 cents a lb in volume of 923 lots, trading in a range of 56.70 to 58.04. May fell 1.36 cents to 57.12 cents a lb. Total volume of 77,938 was 34 percent below the 30-day average.
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