CBOT soybeans drop 1.6% as early harvest yields top expectations

CHICAGO, Sept 24 (Reuters) - Chicago Board of Trade soybean futures fell 1.6% on Thursday, pressured by reports of better-than-expected harvest yields in the U.S. Midwest and fund selling, traders said. * CBOT November soybeans dropped below their 10-day moving average for the first time since Aug. 24 and closed below $10 a bushel. * The most-active soybean futures contract has fallen for four days in a row, the longest stretch of lower closes since Aug. 4-7. * Soymeal and soyoil futures also dropped. The most-active soyoil futures contract hit its lowest since Aug. 25 on a continuous basis. * The U.S. Agriculture Department said that weekly export sales of soybeans totaled 3.195 million tonnes, topping the high end of analysts' forecasts that ranged from 2 million tonnes to 3 million tonnes. * USDA did not announce any new private export deals on Thursday, the first time there were no so-called "flash sales" to China since Sept. 7. Last Net Pct Low High Volume chng chng SOYBEANS NOV0 998.75 -15.75 -1.6 997.25 1014.75 165874 SOYBEANS JAN1 1002.00 -16.75 -1.6 1001.00 1019.25 56856 SOY MEAL OCT0 333.60 -8.50 -2.5 333.20 343.10 20139 SOY MEAL DEC0 336.00 -8.60 -2.5 335.40 345.10 77488 SOYBEAN OIL OCT0 32.35 -0.34 -1.0 32.02 32.70 10818 SOYBEAN OIL DEC0 32.39 -0.41 -1.3 32.04 32.83 79938 (Reporting by Mark Weinraub; editing by Jonathan Oatis)

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