Chicago Board of Trade soyabean futures declined to a fresh five-month low on Thursday, weighed down by a record-large Brazil soya harvest and positioning ahead of US government crop data due on Friday, traders said. Front-month CBOT May soyabean futures fell to $9.61 per bushel, lowest since October 13, before trimming losses slightly. Soyameal, soyaoil, canola and palm oil futures also were lower.
The US Department of Agriculture on Friday was expected to project a steep rise in US soyabean planted acres, according to analysts polled by Reuters. Independent consultancy Agroconsult late in Thursday's trading session estimated Brazil's soya harvest at a record 113.3 million tonnes, up from their previous estimate of 111 million. The findings came after a crop tour. USDA said weekly export sales of US soyabeans last week totalled 681,000 tonnes, above analyst estimates for 350,000 to 550,000 tonnes.
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