US soyabean futures closed lower on Tuesday, falling to two-month lows, on pressure from a turn to warmer and drier US weather, which should boost crop prospects, a firm dollar, lower crude oil and falling equities markets. CBOT July down 10 cents per bushel at $9.30-1/2. November down 12-1/2 at $9.03.
Funds sold 4,000 contracts. USDA said 53 percent of the US soya crop had been planted, up from 38 percent a week ago but below the 57 percent five-year average.
Warmer and drier weather in the US to boost soya seeding pace and also boost growth and development of the crop that has been seeded. China may soon cut soyabean purchases, according to Oil World. Taiwan's BSPA-T buys 58,000 tonnes Brazilian soyabeans. US cash soyabean basis firm on Tuesday amid a lack of country movement.
US FOB Gulf export premiums steady late on Monday, supported by a lack of farmer selling. CBOT July soyameal down $2.60 per ton at $271.10 per ton. Funds sold 1,500 contracts. Soyaoil ended lower on pressure from falling soya, plunging crude oil, lower equities markets and a strong dollar. CBOT July down 0.35 cent per lb at 37.17 cents per lb. Funds sold 2,000 contracts.
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