Chicago Board of Trade soyabean futures dropped for the first time in five sessions on Thursday on worries that the United States and China remain far apart in trade negotiations, traders said. CBOT March soyabeans were fell 8-1/2 cents to $9.13-1/4 per bushel, breaking through chart support at its 200-day moving average. CBOT March soyameal ended down $3.50 at $305.50 per short ton and March soyaoil fell 0.09 cent to 30.81 cents per pound.

Investors squared positions ahead of a bevy of US Department of Agriculture (USDA) crop reports due Friday, including some data delayed by the partial US government shutdown in December and January. News that US President Donald Trump and China's Xi Jinping would not meet during trade talks dashed hopes that the two sides were progressing on a deal to end a bitter trade fight that has slashed Chinese purchases of US soya.

Earlier on Thursday, White House adviser Larry Kudlow said in an interview on Fox Business Network that there was a sizable distance to go in US-China trade talks. Improving crop weather in South America also weighed on prices following recent cuts to yield prospects due to drought in Brazil and excessive rains in Argentina.

Copyright Reuters, 2019