CBOT soybeans tick down on ample supply, demand concerns
CHICAGO, Dec 23 (Reuters) - Chicago Board of Trade soybean futures ticked lower on Tuesday as traders remained cautious about the pace of Chinese purchases of U.S. beans under a bilateral trade truce, while forecasters continued to project another record harvest in Brazil this season.
The prospect of a bumper soy harvest in Brazil this season has hung over the soybean market, with favorable weather also pressuring prices.
Bearish fundamentals have weighed on prices and diminished the effects of a typical end-of-year rally, also known as a "Santa Claus" rally.
Volume has been thin, contributing to choppy trade.
CBOT January soybeans SF26 settled 1-1/4 cents lower at $10.63-3/4 per bushel.
CBOT March SMH26 soymeal futures settled $2.30 higher at $304.20 per short ton.
Most-active March soyoil BOH26 ended 0.29 cent lower at 48.79 cents per pound.
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