US soyabeans lower

US soyabean futures ended lower Wednesday, with the July contract down nearly 1 percent, in a third consecutive decline and a sixth lower close in seven sessions. July soyabeans ended down 11-3/4 cents at $13.52. Traders cited robust harvests in South America, an apparent absence of buying interest from China, and a decline in crude oil futures.
US corn plantings are behind average levels, leading to concern about potential production declines and also talk about a potential shift from corn acreage to soy. A prolonged period of dry weather in Germany has now started to damage Germany's grain and rapeseed crops, German farming association DBV said on Wednesday. No deliveries of soyabeans were reported on May.