CBOT soy to near 3-month low on economic worries, US harvest

26 Sep, 2012

* The dollar hit a two-week high against the euro and US equities fell as renewed upheaval in the euro zone over financial bailouts led investors to book profits near the close of a strong third quarter.

* Additional pressure from talk of better-than-expected soy yields as the US harvest expands.

* Also bearish, rains across central Brazil this week have eased dryness in some areas, lifting prospects for the planting of that country's 2013 soybean crop.

* Benchmark November soybeans hit sell-stops as the contract fell below $15.82, the 38 percent retracement mark of the contract's summer rally from early June to early September.

* Spot soybeans fell to $15.65, the lowest spot soybean price since July 3.

* USDA confirmed sales of 140,000 tonnes of US soybeans to unknown destinations for delivery in 2012/13.

Copyright Reuters, 2012

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