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331921

CBOT soybeans close mostly lower after western Midwest rains

CHICAGO, Aug 8 (Reuters) - Chicago Board of Trade soybean futures ended mostly lower on Monday after rains in some dry areas of the western U.S. Midwest, although losses were limited by improved export demand, traders said. * CBOT November soybean futures settled down 8-3/4 cents at $14.00 a bushel. * CBOT December soymeal was down $6.00 at $399.10 a ton and CBOT December soyoil gained 0.35 cent to 64.32 cents per lb. * Market moves were tempered by positioning by traders ahead of the U.S. Department of Agriculture's (USDA) monthly supply-and-demand report due on Friday. The agency may update some acreage data following a resurvey of plantings in Minnesota and the Dakotas. * The USDA on Monday confirmed private sales of 132,000 tonnes of soybeans to China for delivery in the 2022/23 marketing year. * In a weekly report, the USDA said 867,504 tonnes of soybeans were inspected for export last week, above trade expectations for 300,000 to 750,000 tonnes and a four-month high. * Analysts polled by Reuters expect the USDA to report a 1 percentage point drop in U.S. soybeans rated in good-to-excellent condition. The USDA is due to release its survey data later on Monday. * Two more ships, carrying corn and soybeans, departed from Ukrainian Black Sea ports on Monday, Turkey and Ukraine said, taking the total to ten since the first ship sailed last week under a deal with Russia to unblock Ukrainian grain exports. (Reporting by Karl Plume in Chicago Editing by Matthew Lewis)

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