SINGAPORE: Chicago soybean futures lost more ground on Monday as expectations of ample world supplies and slowing demand in top buyer China added pressure on prices.
Wheat fell for a fifth consecutive session and corn dropped to its lowest in more than a week.
The most-active soybean contract on the Chicago Board Of Trade (CBOT) was down 0.1% at $12.04-3/4 a bushel, as of 0301 GMT, near the session low of $12.02 a bushel - the weakest since Oct. 15.
Corn lost 0.2% to $5.52 a bushel and wheat gave up 0.2% to $7.65-1/4 a bushel.
The market eyes next US Department of Agriculture (USDA) supply-demand reports due on Tuesday. Traders expect the USDA to raise US harvest forecasts for corn and soybeans.
China's soybean imports in October fell 41.2% from a year earlier, hitting the lowest level since March 2020, customs data showed on Sunday, as poor crush margins curbed demand and Hurricane Ida limited US shipments.
Losses in wheat are being curbed by global supply concerns as dry growing conditions in Russia and Ukraine threaten recently sown winter crops after poor spring harvests this year.
Sovecon, a leading Black Sea agricultural markets research firm, cut on Friday its 2021/22 Russian wheat exports forecast by 0.3 million tonnes to 34 million tonnes.
Global wheat demand continues to be strong with higher-than-expected purchases by top buyers.
Large speculators raised their net long positions in CBOT corn futures in the week ended Nov. 2, regulatory data released on Friday showed.
The Commodity Futures Trading Commission's weekly commitments of traders report also showed that non-commercial traders, a category that includes hedge funds, trimmed their net short positions in CBOT wheat and switched to a net long position in soybeans.
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