Markets

CBOT soybeans close modestly lower ahead of USDA monthly data

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* CBOT January soybeans settled down 1-1/2 cents at $8.84-1/4 per bushel.

* CBOT December soymeal ended up 80 cents at $311.40 per short ton while December soyoil finished unchanged at 27.90 cents per pound.

* Ahead of the USDA's monthly supply/demand reports, analysts on average expect the government to lower its US soybean yield estimate but raise its forecast of 2018/19 soy ending stocks.

* Late on Monday, the USDA said the US soybean harvest was 83 percent complete, lagging the five-year average of 89 percent.

* Brazil's soy industry group Abiove raised its projection for the country's soybean exports this year to 79 million tonnes, from 77 million tonnes seen in October.

* Argentine soy crushing factories want to revive their business

with a deal permitting them for the first time to export soymeal livestock feed to China, a pact that the government said was being hammered out this week in Beijing.

Copyright Reuters, 2018