CBOT soybeans end mixed on harvest pressure, export sales

• CBOT December soymeal ended $3.00 higher at $305.60 per short ton.
• The US Department of Agriculture (USDA) on Thursday confirmed private sales of 264,000 tonnes of US soybeans to China.

CHICAGO: Chicago Board of Trade soybean futures ended mixed on Thursday as good US harvest weather and lower-than-expected weekly export sales data overshadowed confirmation of fresh sales to China, traders said.

CBOT November soybeans settled 1/2 cent lower at $9.33-1/4 per bushel after failing to break through technical chart resistance around the $9.40 level.

CBOT December soymeal ended $3.00 higher at $305.60 per short ton, while December soyoil jumped 0.76 cent to settle at 31.34 cents per pound.

The US Department of Agriculture (USDA) on Thursday confirmed private sales of 264,000 tonnes of US soybeans to China.

Net soybean export sales last week totaled just 475,200 tonnes, including just one cargo of beans to China. Analysts surveyed by Reuters ahead of the report had expected weekly sales of 800,000 tonnes or more.

Favorable US harvest weather weighed on the market. Mostly dry weather forecast for much of the US farm belt over the next two weeks should ramp up harvesting.