CHICAGO: US soyabean futures fell 1.6% to their lowest level since July 15 on Tuesday, pressured by forecasts for rain in western areas of the US Midwest that eased lingering concerns about dry conditions in key growing areas limiting production.
Forecasts for a record crop in Brazil added to the pressure on the soyabean market.
The benchmark Chicago Board of Trade November soyabean futures contract dropped below its 10-day, 20-day, 30-day and 40-day moving averages during Tuesday's session.
Soyameal and soyaoil futures also fell, with September soyameal hitting a new contract low.
AgroConsult estimated soyabean plantings in Brazil would rise by more than 1 million hectares to 37.9 million for the 2020/21 season, with the harvest seen at a record 132.6 million tonnes.
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