U.S. soybean futures fell Monday, pressured by improving expectations for crops in the U.S. and South America.Chicago Board of Trade November soybean futures, thinly traded ahead of the contract's expiration on Nov. 14, fell 22 3/4 cents or 1.5% to $15.04 1/4 a bushel, a more than two-week low.
Most-active January soybeans fell 23 1/2 cents or 1.5% to $15.03 1/4 a bushel.
Traders said market participants sold futures to exit bets on higher prices Monday, ahead of a U.S. Department of Agriculture report Friday expected to include a higher estimated yield for the U.S. soybean crop. A higher yield would somewhat ease concerns about tight supplies of soybeans after severe drought widely damaged U.S. crops over the summer.
