CHICAGO: Chicago Board of Trade soybean futures fell on Wednesday for a third straight session on position-squaring ahead of key US government crop reports due Friday and forecasts for improving crop weather in South America, traders said.
CBOT March soybeans settled down 8-3/4 cents at $9.55 per bushel after dipping to $9.51-3/4, the contract's lowest since Aug. 31.
CBOT March soymeal ended down $1.80 at $316.40 per short ton and March soyoil fell 0.25 cent at 33.45 cents per pound.
Analysts on average expect the US Department of Agriculture (USDA) to raise its forecasts of US 2017/18 soy ending stocks and Brazil's soybean harvest.
Celeres, a consultancy, on Tuesday raised its estimate of Brazil's soybean crop to 111.8 million tonnes, up 1.9 percent from its previous estimate.
The USDA said private exporters sold 260,000 tonnes of US soybeans to unknown destinations, including 65,000 tonnes for delivery in the 2017/18 marketing year and 195,000 tonnes for 2018/19.
CBOT reported 21 deliveries against the January soybean contract, which expires on Friday, along with 99 January soymeal deliveries and 140 January soyoil deliveries.
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