CHICAGO: Chicago Board of Trade soyabean futures closed lower on Wednesday on profit-taking after multi-year highs set this week, and ahead of Thursday's US Thanksgiving holiday, traders said. Additional pressure stemmed from signs that Chinese buyers may be balking at lofty US prices. Some Chinese soyabean importers and processors are looking to cancel US cargoes for December and January shipment, after crushing margins collapsed following the CBOT rally, three trade sources said.
CBOT January soyabeans settled down 7-1/4 cents at $11.84 per bushel, retreating farther from Monday's peak of $12, the highest price for a most-active soyabean contract in four years. CBOT January soyameal ended down $1 at $395.90 per short ton, while January soyaoil rose, settling up 0.14 cent at 37.86 cents per pound.
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