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Soybean futures slip on harvest pressure and fund liquidation
Prices also weighed on expectations that August soybean crush volumes fell, traders said.
Soybean futures on the Chicago Board of Trade fell on Thursday, driven by fund liquidation, along with expectations that the soybean crush in August likely declined, according to traders cited by LiveMint Markets and Reuters.
The selloff reflected supply pressure from a harvest expected to be record large in the United States, as well as concerns about export demand.
Traders also noted that a wet late summer and early autumn slowed the harvest pace, but new supplies still weighed on prices as market focus shifted away from weather-related quality concerns.
In related grain trade, CBOT wheat closed higher in choppy trading, supported by expectations around a small US crop and a large import tender announced by Saudi Arabia, while CBOT corn finished higher after technical buying.
Latest closeWheat $675.25 ▼2.5%|Corn $501.25 ▼4.0%