US soyabean futures closed slightly lower on Monday, pressured by expectations for a robust South American soybean harvest, traders said. May soyabeans settled 10-1/4 cents a bushel lower at $13.64-3/4, while new-crop November was down 4-3/4 cents at $13.24-3/4.
No soyabean deliveries were reported by the CME Group, but few were expected given tight US supplies, sources noted. Soyoil deliveries totalled a hefty 5,490. Soymeal deliveries were within expectations at 241. Estimated volume in soybean futures was 156,291 contracts, according to the CME Group, less than their 30-day moving average computed by Thomson Reuters. May soymeal down $2.80 at $361.90 per ton. Following soyabeans. Funds sold an estimated net 2,000 contracts. CBOT May soyoil down 0.25 cent at 57.33 cents per lb. Following soyabeans.
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