US soyabeans fall sharply

US soyabean futures ended sharply lower on Thursday on talk of fund selling of commodities, traders said. Corn futures led the sell-off, which was initially sparked by an improved planting weather forecast for some parts of the Corn Belt. Weaker crude oil futures also weighed on soybean prices, which breached various chart support levels just under $13.50 on the way down.
USDA's weekly export sales report data also was bearish for soybeans. The agency on Thursday said export sales of US soy last week totalled 199,200 tonnes, below the range of estimates for 350,000 to 550,000 tonnes. Census US soya crush in March 140.3 million bushels, slightly above an average estimate for 139.27 million.