CHICAGO: Chicago Board of Trade soybean futures fell to three-month lows on Tuesday on technical selling and as rains in some South American soy production areas were seen boosting crops.
Benchmark CBOT January soybeans ended down 5-1/2 cents at $9.56 a bushel, the lowest since mid-September. Chart-based selling as prices fell below Monday's lows accelerated declines at midsession.
Soymeal futures closed lower while soyoil rose.
Rains are forecast for much of Argentina's farm belt this week, while widespread precipitation is expected in Brazil later this week, meteorologists said.
The US Department of Agriculture said private exporters sold 145,000 tonnes of US soybeans to unknown destinations for 2018-19 delivery, the third soybean sales announcement in as many days.
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