CBOT soyabean futures drop to four-month low

Chicago Board of Trade soyabean futures declined for the fourth straight session on Thursday, notching fresh four-month lows, as investors evened positions a day ahead of US government crop data, traders said. Estimates from Brazil consultancies for increased soya output, coupled with crop-friendly weather there, further weighed on soyabean prices. Analysts on average expect the US Department of Agriculture (USDA) to raise its forecasts of US 2017-18 soya ending stocks and Brazil's soyabean harvest.
USDA said weekly soyabean export sales totalled 607,400 tonnes, within the range of analysts' estimates.