Soyabeans lower

Chicago  (january 26, 2011) : chicago board of trade soyabean futures closed lower on monday, with front-month march down 0.55 percent on an improved weather outlook for argentina and sharply lower crude oil prices, traders said. crude prices ended lower for a fifth straight day, pressured by high domestic inventories. fund selling also weighed on prices, with funds seen as net sellers of an estimated 6,000 soybean futures contracts.
march soyabeans closed down 7-3/4 cents per bushel at $14.04-1/2. new-crop november soyabeans was down 11-1/2 cents at $13.36-3/4. daily volume was estimated at a relatively low 153,596 contracts, according to data provided by the cme group. soyabean options activity was generally quiet. traders said one exception was a firm that purchased an estimated 5,000 march $16 calls, which was believed to be short-covering. us agriculture department's weekly export inspections revised up from last week. soyabeans higher than expected. march soymeal closed up $0.60 at $380.20 per ton. oil/meal spreading weighed on soymeal. funds bought an estimated net 1,000 contracts. march soyoil down 0.38 cents at 57.18 cents per lb. funds sold 2,000 contracts.

(Source: http://www.brecorder.com/news/agriculture-and-allied/world/1148076:us-soyabeans-lower.html?hl=soybean)