CBOT soybeans ease on large supplies, South American weather
CHICAGO, Oct 24 (Reuters) -Chicago Board of Trade soybean futures settled slightly lower on Thursday as supply pressure countered support from strong export sales numbers and rains aided South American crops, according to analysts.
CBOT November soybeans SX24 settled down 1-1/4 cents at $9.96-1/4 per bushel.
CBOT December soymeal SMZ24 ended down $4.60 at $310.40 per short ton and December soyoil BOZ24 fell 0.94 cent to finish at 44.33 cents per pound.
The U.S. Department of Agriculture reported export sales of soybeans in the week ended Oct. 17 at 2,151,700 metric tons, toward the high end of a range of trade expectations for 1,200,000 to 2,400,000 tons. EXP/SOY
The USDA also confirmed private sales of 198,000 metric tons of soybeans to undisclosed destinations.
Recent rainfall over Argentina's agricultural heartland will likely continue into November, allowing for the normal planting of soybeans, a leading meteorologist told Reuters on Thursday.
Reporting by Renee Hickman; Editing by Mark Porter
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