Soyabean futures on the Chicago Board of Trade fell 0.7 percent on Wednesday as traders took profits after a seven-day rally drove the spot contract to a near 28-month high this week. Weak tone in crude oil adds pressure. Continued concerns about hot and dry crop weather in South America underpinned the market, although some outlooks called for a bit more rain next week than previous forecast.
January soyabeans ended down 9-3/4 cents at $13.66 per bushel; most-active March down 10 at $13.77. January soyameal down $2.90 at $365.70 per ton. January soyaoil down 0.44 cent at 56.38 cents per lb. Funds sold 4,000-5,000 soyabean contracts, 2,000 soyameal and 2,000 soyaoil, floor traders said. USDA confirmed sales of 120,000 tonnes US soyabeans to China for 2011/12.
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