Chicago Board of Trade soyabean futures closed lower Tuesday on light technical selling but the lead January contract stayed inside of Monday's trading range as the market awaited fresh direction, traders said. CBOT January soyabeans settled down 1 cent at $9.89 per bushel, holding above chart support at its 20-, 50- and 100-day moving averages. CBOT December soyameal ended down $1.50 at $318.30 per short ton while December soyaoil rose 0.22 cent at 34.17 cents per pound, rebounding from a one-month low hit a day earlier.
The US Department of Agriculture late Monday said the US soyabean harvest was 96 percent complete, up from 93 percent the previous week and near the five-year average of 97 percent. Rallies capped by beneficial rains in crop areas of northern Brazil, with more expected in the coming days.
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