CBOT Soy sags on competition for US export sales from Brazil
Chicago Board of Trade Soybean futures ended lower on Monday as stiff competition for U.S. export sales from Brazil and concerns about demand from top importer China continued to hang over the market, analysts said.

CBOT May soybeans contract SK24 ended 3-1/2 cents lower at $11.81-1/2 per bushel.

CBOT May soymeal SMK24 settled up $2.90 at $336 per short ton and May soyoil BOK24 fell 0.99 cents to 47.9 cents per pound.

Ahead of a monthly USDA supply/demand report due on Thursday, analysts on average expect the government to slightly raise its forecast of U.S. 2023/24 soybean ending stocks from March.

In Brazil, the world’s biggest soy exporter, harvesting reached 78% of the planted area as of last Thursday, down from 82% a year earlier, agribusiness consultancy AgRural said.

Consultancy AgResouce raised its estimate for Brazil’s soybean crop to 145.46 million tons from 143.92 million in a previous forecast.