Chicago Board of Trade soyabean futures fell 1.7 percent on Wednesday, pressured by technical selling and outlooks for record-large US soya plantings, traders said. Soyabeans declined after rising for the past two sessions. Losses in soyabeans outpaced those in both soyameal and soyaoil futures.
The outlook for rain this week in Argentina also weighed on soya prices. Scattered showers could aid later-planted soya and corn crops in the No. 3 global exporter, but months of drought already limited yield potential for many fields, analysts and meteorologists said. US soyabean planted acres would total a record 92.104 million acres, advisory service Allendale Inc estimated following a survey of farmers. CME Group reported no CBOT March soyabean deliveries, no soyameal deliveries and 22 soyaoil deliveries.
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