CBOT soyabean hits two-month low

Chicago Board of Trade soyabean futures closed lower on Tuesday, with the January contract hitting its lowest since mid-September on technical selling and export competition from South American suppliers, traders said. CBOT January soyabeans settled down 8-1/4 cents at $8.84-1/4 per bushel after dipping to $8.82-3/4, the contract's lowest since September 11.

CBOT January soyameal ended down $3.50 at $297.10 per short ton and January soyaoil fell 0.19 cent to 30.40 cents per pound. CBOT soyaoil pressured as Malaysian palm oil futures slumped on expectations of lower imports by key buyer India.