CBOT soyabean futures lower

Chicago Board of Trade (CBOT) soyabean futures closed lower on Wednesday, halting a seven-session advance, on technical selling including profit-taking, traders said. Some analysts tied the weaker tone in futures to weather outlooks calling for drier conditions in the Midwest that could bolster late soyabean planting progress. But other forecasts called for wet conditions to persist.
CBOT July soyabeans settled down 10-1/4 cents at $9.03-1/4 per bushel.
CBOT July soyameal ended down $5.10 at $316.90 per short ton while July soyaoil settled up 0.04 cent at 28.37 cents per pound. Soyameal followed soyabeans lower, with softening domestic cash values adding to bearish sentiment.
The CBOT July board crush has dropped sharply this week to about $1.05 a bushel, from about $1.30 last week.
Ahead of the US Department of Agriculture's weekly export sales report on Thursday, analysts expected the government to report weekly soyabean sales at 200,000 to 800,000 tonnes.