Chicago Board of Trade soyabeans ended mostly lower on Wednesday on a lack of fresh export news and profit-taking after nearby July failed to top on Tuesday's high, brokers said.
CBOT soyabeans ended down 10-1/4 cents to up 1/4 cent per bushel, with July down 10-1/4 cents at $8.72 after failing to top on Tuesday's high of $8.96. New-crop November soyabeans settled down 1-1/4 cents at $7.09.
Commodity funds sold at least 2,000 contracts and commercials were net sellers, led by sales by Cargill Inc of 1,500 July, brokers said.
Forecasts called for mostly dry weather in the western Midwest through on Saturday and rains of up to 0.75 inch in the eastern Corn Belt during the next 48 hours.
The US Department of Agriculture reported late on Monday that soya plantings were 67 percent complete on Sunday, well ahead of the five-year average of 54 percent.
The crop was 41 percent emerged, well ahead of the five-year average of 26 percent. Soyameal settled down $1.50 to $9.70 per ton, with July down $9.70 at $277.30 and December down $2.50 at $227.20 per ton.
Commodity funds sold at least 2,000 contracts and commercials were net sellers, led by sales of 2,000 July by Cargill Inc, brokers said. Cash US soyameal basis offers were steady to weak, dealers said.
Cash Midwest soyabean basis bids were weak on Wednesday. Soyaoil futures closed up 0.12 cent per lb to down 0.15 cent, with July up 0.12 cent at 28.86 cents. Commodity funds bought at least 500 contracts and commercials were light net buyers, brokers said.
Gains were limited by a weak close in rival Malaysian palm oil futures, brokers said. The CBOT July soyabean crush margin closed down 9.77 cents at 55.52 cents per bushel.
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