DECLINE IN SOYBEAN FUTURES PRESSURES PRODUCT PRICES

Soybean futures lost more than one percent on Thursday with the nearby contract down almost 1 1/2 percent while losses in deferred contracts were smaller. The decline came despite the confirmation of a 1.13-million-tonne sale of US soybeans to China. Prices were also pressured by technically driven selling at the 10-day and 200-day moving averages for the nearby…