CHICAGO: Chicago Board of Trade soybean futures fell sharply on Thursday on a lack of fresh demand from China and after Brazilian crop forecaster Conab said Brazil's soy crop was larger than some traders had expected.
* CBOT March soybeans ended down 17-1/4 cents at $9.06-3/4 per bushel, a one-week low. The 1.9-percent drop was the contract's steepest since Nov. 26.
* CBOT March soymeal ended down $6.60 at $316.80 per short ton while March soyoil fell 0.41 cent to 28.19 cents per pound.
* The drop in soybeans erased gains posted over the past week as hopes for more export sales to China since US-China trade talks this week have thus far failed to materialize.
* Brazilian statistics agency Conab cut its estimate of the 2018/19 soybean harvest to 118.8 million tonnes from 120.1 million in December. Many traders had been expecting a deeper cut following hot, dry weather in parts of the country.
* Consultancy Agroconsult also cut its Brazil soy crop outlook.
* The CBOT reported 938 January soybean deliveries. January soymeal deliveries totaled 354 contracts and January soyoil deliveries totaled 52 contracts.
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