Soybeans fall as Brazil weather forecasts improve

Chicago Board of Trade soybean futures fell for a fifth straight session on Monday on improved crop weather forecasts for top supplier Brazil next week, including outlooks for beneficial rain in the center-west soy region. Brazil, the world's top soybean exporter, is projected to harvest a record large crop in 2016. CBOT soyoil futures declined, with the March contract hitting its lowest in more than a week amid weakness in Malaysian palm oil, a competing vegetable oil, and crude oil.
CBOT soymeal futures also fell, with recent weakness in US cash values adding pressure. Thursday is first notice day for deliveries against CBOT January contracts for soybeans, soymeal and soyoil.