CBOT soyabean futures fall on profit-taking

Chicago Board of Trade soyabean futures fell on Wednesday with traders locking in profits after an early rally fizzled. Technical support for the CBOT May soyabean futures contract was seen its 30-day moving average. Soyameal futures also closed in negative territory. Support for the May soyameal contract was seen at its 50-day moving average.
Soyaoil futures rose, finding some technical buying after dipping to Tuesday low. But the market remained stuck near the 10-1/2-month low hit on Monday. Analysts' estimates for weekly soyabean export sales, which the US Department of Agriculture will release on Thursday morning, ranged from 1.4 million to 2.2 million tonnes. That compares with 2.465 million last week.