Soyabean futures on the Chicago Board of Trade settled narrowly mixed on Monday, with nearby contracts losing to back months on spreads. The most-active May soyabean contract settled down 1/2 cent at $10.06 per bushel but stayed above Friday's two-month low of $10.03. Expectations for a record-large Brazilian soyabean harvest hung over the market, capping rallies.
CBOT May soyameal closed higher on bargain-buying after setting a two-month low last week. CBOT May soyaoil closed lower, losing to soyameal on meal/oil spreading and on spillover pressure from Malaysian palm oil futures. Private analytics firm Informa Economics raised its projection of US 2017 soyabean plantings to 88.7 million acres, up about 21,000 acres from its previous forecast.The US Department of Agriculture said private exporters sold 120,000 tonnes of US soyabeans to unknown destinations for 2017/18 delivery.
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