US soyabean futures fell to their lowest in 1-1/2 months on Thursday on pressure from signs of weak export demand, traders said. Soyameal futures also closed lower while soyaoil firmed as traders unwound long soyameal/short soyaoil spreads. The US Agriculture Department on Thursday morning said that soyabean export sales totalled 506,600 tonnes in the latest week, near the low end of forecasts that ranged from 400,000 to 1 million tonnes. The benchmark Chicago Board of Trade July soyabean futures contract found support at the low end of their 20-day Bollinger range but closed at session lows.
Concerns about Chinese demand for US soyabeans amid an ongoing trade spat between the two countries continued to hang over the market. President Donald Trump said on Thursday that China had become "very spoiled" on trade, as US and Chinese officials hold high-level talks in Washington on bilateral trade ties.
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