CBOT soybeans slip on harvest pressure, large global supply
CHICAGO, Sept 16 (Reuters) -Chicago Board of Trade soybean futures tipped down on Monday as U.S. farmers begin harvesting what is expected to be a record soy crop, adding to an already ample global supply of soy.
CBOT November soybeans SX24 settled down 1-3/4 cents at $10.04-1/2 per bushel.
CBOT December soymeal SMZ24 ended up $0.90 at $323.80 per short ton, and December soyoil BOZ24 rose 0.18 cent to close at 39.11 cents per pound.
Exporters sold 132,000 metric tons of U.S. soybeans to unknown destinations for 2024/25 delivery, the U.S. Department of Agriculture said in a daily reporting system.
The U.S. soybean crush dropped below all trade estimates in August to the lowest point for a single month in nearly three years, while soyoil stocks fell to a 10-month low, according to National Oilseed Processors Association (NOPA) data released on Monday.
Reporting by Heather Schlitz; Editing by David Gregorio
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