CHICAGO: Chicago Board of Trade soyabean futures dropped on Friday on improving US weather forecasts and uncertainty over demand from top-importer China, analysts said.
CBOT August soyabeans settled down 9-1/4 cents at $8.87-1/4 per bushel and touched its lowest price since July 1. The contract ended down about 0.4% on the week.
CBOT August soyameal slid $4.80 to $292.50 per short ton, while August soyaoil slipped 0.07 cent to finish at 28.22 cents per pound.
Analysts said US weather forecasts looked wetter in crop-growing areas that were previously expected to be unfavorably hot and dry.
The US Department of Agriculture, in a monthly report, pegged domestic soyabean production at 4.135 billion bushels, up from its June outlook for 4.125 billion bushels. Average yield expectations were unchanged at 49.8 bushels per acre.
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