Soybeans ease on outlook for big South American crops - CBOT
Grain futures fall as traders watch China demand, Brazil supply
Chicago Board of Trade (CBOT) soybean futures closed lower for a second straight session on Tuesday on a lack of supportive news and expectations of large South American harvests, Reuters reported, citing traders.
CBOT January soybeans settled down 3-1/4 cents at $11.24-3/4 per bushel. CBOT January soymeal ended down $3 at $311.60 per short ton, while January soy oil closed higher, rising 0.32 cent to settle at 52.68 cents per pound.
Traders continued to gauge Chinese demand for US soy supplies. The US Department of Agriculture reported no new flash sales of US soybeans on Tuesday, following a string of bookings confirmed last week.
An analyst said China bought some Brazilian soybeans, which have been priced at a discount to US supplies.
Brazil is expected to harvest its largest-ever soybean crop early in 2026, but traders are monitoring dry patches in southern areas.