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Chicago Board of Trade July soymeal futures fell to $296.10 per ton before trimming losses to $296.70, down $1.20, at 11:48 a.m. CDT (1648 GMT). Broad selling across commodities, as well as abundant global soy supplies, pressured CBOT soybean, soymeal and soyoil futures, traders said.
The lower prices made soymeal more attractive than canola for some California dairies, a US feed broker said.
US weekly soymeal export sales came in generally in line with analyst expectations.