CHICAGO: Chicago Board of Trade soybean futures fell on Tuesday on technical selling and spillover weakness from corn and crude oil futures, traders said.
* CBOT January soybeans settled down 5 cents at $8.78-1/4 per bushel.
* CBOT December soymeal ended down $1.70 at $303.90 per short ton and December soyoil fell 0.16 cent at 27.55 cents per pound.
* US crude oil slumped nearly 8 percent to hit an 11-month low on worries about weakening global demand, oversupply and sell-offs across other asset classes, including equities.
* Soybean and soyoil futures sometimes track moves in crude oil due to soyoil's role as a feedstock for biodiesel fuel.
* The 19-market Thomson Reuters/CoreCommodity Index was down 1.8 percent, hitting its lowest since December.
* Soy market underpinned by fresh export demand. The US Department of Agriculture (USDA) said private exporters sold 276,732 tonnes of US soybeans to unknown destinations for delivery in the 2018/19 marketing year that began Sept. 1.
* Also, President Donald Trump's top economic adviser said that the United States welcomed the resumption of talks with China, the world's top soy buyer, on trade.
* Ahead of the USDA's weekly crop progress report, analysts surveyed by Reuters on average expected the government to report the US soybean harvest as 91 percent complete.
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