CBOT soybeans drop on demand after two-week high
CHICAGO, July 24 (Reuters) -Chicago Board of Trade soybean futures ended lower on Wednesday on expectations of lower demand after notching a two-week high a day earlier.
August soybeans SQ24 ended down 6-1/2 cents at $11.11 per bushel.
Most-active November soybeans SX24 ended down 11-1/2 cents at $10.64 a bushel.
CBOT August soymeal SMQ24 ended up $0.70 at $343.40 per short ton.
CBOT August soyoil BOQ24 ended the day down 0.64 cents to finish at 46.02 cents per pound.
Analysts said prices were pressured by low demand.
China, the world's biggest soy importer, said on Wednesday its soybean self-sufficiency rate has increased by nearly 4 percentage points in two year.
Traders watched forecasts for potentially stressful U.S. weather heading into August, the key period of development for the soybean crop.
Reporting by Renee Hickman; Editing by Sandra Maler
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