CBOT soyabeans drop to near 3-month low

CHICAGO: Chicago Board of Trade soybean futures slumped to the lowest in nearly three months on Monday on rising supplies as the US harvest began and on spillover pressure from tumbling crude oil and equities markets, analysts said.

CBOT November soybeans touched $12.62 a bushel, the weakest since June 25, and settled down 21-1/2 cents at $12.62-1/2 a bushel. Selling accelerated as the contract broke through technical chart support at its 200-day moving average.

December soymeal futures lost $2.40 at $339.80 a ton, while December soyoil eased 1.39 cents to 54.87 cents per lb.