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333670

CBOT soybeans close lower on favorable U.S. crop weather

CHICAGO, Sept 15 (Reuters) - Chicago Board of Trade soybean futures settled lower on Thursday on expectations that warm, dry weather will benefit crops and allow farmers to advance the autumn harvest, traders said. * Traders said that competition for soybean export sales from South America continued to hang over the market. * The U.S. Department of Agriculture said in a weekly report that exporters sold a net 843,000 tonnes of U.S. soybeans in the week ended Sept. 8 for shipment in the 2022/23 marketing year and 30,000 tonnes for 2023/24. The sales were in line with trade estimates. [EXP/SOY/ * CBOT November soybeans slid 3-1/2 cents to settle at $14.51-1/2 a bushel. * CBOT December soymeal jumped $4.90 to $428 a ton, and CBOT December soyoil fell 0.57 cent to 64.30 cents per lb. * The U.S. soybean crush dropped by nearly 3% in August and fell short of the average trade forecast, while soyoil stocks at the end of the month hit a 14-month low, according to National Oilseed Processors Association (NOPA) data. (Reporting by Tom Polansek; editing by Jonathan Oatis)

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