CBOT soyabean futures fall on better rains

CHICAGO: Chicago Board of Trade soyabean futures fell on Monday as better-than-expected rains soaked crops in South America and as traders squared positions ahead of a US government crop supply and demand report on Tuesday. CBOT March soyabeans settled down 2-1/4 cents at $13.72-1/2 per bushel after peaking at $13.88-3/4, the highest price on a continuous chart of the most-active contract since June 2014.

CBOT March soyameal settled up $7.20 at $446.80 per short ton while March soyaoil fell 0.96 cent to finish at 42.63 cents per pound. Weekend rains topped expectations in Argentina and parts of Brazil. Worries about yield-denting dryness had helped to lift prices to 6-1/2 highs.