Markets

CBOT soy ends down as dollar gains, crude sags

CHICAGO : Soybean futures on the Chicago Board of Trade closed lower on Monday on a strong dollar, falling equities and

Published October 31, 2011 Updated October 31, 2011 08:40pm

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By Abdul Ahad

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* Volume was the lightest since Sept. 20.

* Traders said soybeans were also weighed down by larger-than-expected deliveries on first notice day totaling 741 contracts. Traders had expected deliveries of 200 to 500 contracts.

* US export sales of soybeans have been dismal due to competition from Brazil. Some traders say the export season in Brazil could begin sooner in 2012, which could further depress demand for supplies from the United States.

* Rains forecast for Wednesday and Thursday could further delay the US corn and soybean harvest in areas east of the Mississippi, meteorologists said.

* Soymeal and soyoil also declined. 1:22 PM CDT

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