CHICAGO: Chicago Board of Trade soyabean futures closed lower on Monday on technical selling and long liquidation ahead of the US presidential election on Tuesday, and on favorable US harvest weather, traders said.
CBOT January soyabeans settled down 4 cents at $10.52-1/4 per bushel.
Front-month November soyabeans ended down 5-3/4 cents at $10.50-3/4, pressured after the CBOT reported 501 deliveries against the contract, which expires at mid-month.
CBOT December soyameal ended down $3.50 at $375.10 per short ton and December soyaoil fell 0.42 cent to finish at 33.19 cents per pound.
The US Department of Agriculture reported export inspections of US soyabeans in the latest week at 2,082,741 tonnes, in line with trade expectations for 1,500,000 to 2,500,000 tonnes.
Ahead of the USDA's weekly crop progress report due later on Monday, analysts surveyed by Reuters on average expected the government to report the US soyabean harvest as 91% complete.
Consultancy AgRural said soyabean planting in Brazil advanced to 42% complete by Oct. 29, from 23% a week earlier, as farmers worked the fields at a breakneck pace after long-delayed rains provided necessary soil moisture. -Reuters
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