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332959

CBOT soybeans end lower on favorable U.S. weather, big harvest

CHICAGO, Aug 29 (Reuters) - Chicago Board of Trade soybean futures fell on Monday on expectations for a large U.S. crop and favorable weather ahead of the harvest, traders said. * Front-month September soybeans sank 70-1/2 cents to end at $15.34-3/4 a bushel. Most-active November soybean futures settled down 23-1/2 cents at $14.37-3/4 a bushel. * CBOT December soymeal were $1.4 lower at $427.10 a ton, and CBOT December soyoil fell 0.44 cent to 66.44 cents per lb. * After the close of trading on Friday, advisory service Pro Farmer predicted a soybean crop of 4.535 billion bushels, slightly above the U.S. Department of Agriculture's forecast of 4.531 billion bushels. The corn crop was projected to be smaller than USDA's forecasts. * Rains in August have helped soybean crops, brokers said. * Traders were buying corn and selling soybeans in spread trades, brokers said. * The USDA is expected to rate 56% of the nation's soybeans in good to excellent condition in a weekly report later on Monday, down 1 percentage point compared with last week's ratings. Estimates ranged from 55% to 58%. (Reporting by Tom Polansek; Editing by Richard Chang)

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