CHICAGO: Chicago Board of Trade (CBOT) soyabean futures stumbled on Wednesday as the market continued to pull back from a four-month high reached this week, traders said.
CBOT November soyabeans closed down 5-1/4 cents at $8.97-1/4 a bushel.
CBOT August soyameal ended $1.70 lower at $293.80 per short ton, while August soyaoil slipped 0.32 cent to 28.55 cents per pound.
Traders have taken profits after the most-active soyabean contract on Monday set its highest price since March 5 on concerns that hot, dry conditions could threaten US crop yields.
Traders continue to watch weather forecasts and are waiting for the US Department of Agriculture to issue monthly estimates on crop production and yields on Friday.
Hot weather in the Midwest will increase stress on corn and soyabeans in areas where topsoil moisture is lacking, according to a daily USDA weather report.
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