US soyabean ends down

Chicago Board of Trade soyabean futures unofficially closed lower on Monday on a slowdown in US soy exports amid advancing harvest of a likely record large South American soybean crop. Declines were slowed by soaring corn futures. Favourable harvest weather is expected this week in Argentina but showers in central and northern Brazil are hampering harvest. Dry weather in southern Brazil seen conducive to harvest.
May contract broke below first key support at its 50-day ma $13.84 and next support is at its 40-day ma $13.74-1/4. Nine-day RSI at 56. May soymeal unofficially closed down $4.10 per ton at $356.80 and May soyoil was up 0.19 cent at 58.87. Strong crude oil and a corn rally lifted soyoil.