CHICAGO: Chicago Board of Trade soyabean futures fell on Thursday, as hot dry weather weighed on harvest expectations, despite bigger potential yields reported by a US Midwest crop tour, traders said. The most-active soyabean futures contract lost 8-3/4 cents, settling at $9.05-1/4 a bushel.
Soyameal futures fell $1.90 to end at $293.80 per short ton, while soyaoil lost 0.37 cent to 31.3 cents per pound. US soyabean export sales data for the week ending Aug. 13 also weighed on the oilseed, as the US Department of Agriculture reported a net cancellation of 12,600 tonnes of soyabeans slated to be shipped in the 2019/2020 marketing year and 212,100 tonnes for 2020/2021 marketing year.
Scouts on the widely followed Pro Farmer Midwest Crop Tour said soyabean plants were above average for pod count in Illinois. On Thursday, some scouts also found above average pod counts in parts of southwestern and south-central Minnesota counties.
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