CBOT soybeans falls on uncertain Chinese demand

Chicago Board of Trade soybean futures fell on Monday after China released data pointing to a slowing economy that could curb exports of U.S. soybeans for animal feed, traders said.

• CBOT September soybeans (SU2) settled 41 cents lower at $14.94 a bushel and most-active November (SX2) ended down 42 cents at $14.12-1/4 a bushel, after falling to $13.86, its lowest since Aug. 4.

• CBOT benchmark December soymeal (SMZ2) lost $12.80 at $405.10 per short ton, while December soyoil (BOZ2) fell 0.98 cent to close at 66.99 cents per lb.

• The People's Bank of China cut key interest rates on weaker-than-expected economic data from the world's second-largest economy, raising concerns of a global recession.

• U.S. exporters prepared 744,571 tonnes of soybeans for inspection during the week ended Aug. 11, down 14.55% from the week prior, according to the U.S. Department of Agriculture.

• The U.S. soybean processing pace rebounded in July from a nine-month low the prior month although crushings fell short of the average trade forecast, according to National Oilseed Processors Association (NOPA) data.

• The U.S. soybean crop is expected to be rated at 58% good-to-excellent on Monday afternoon, a Reuters poll of analysts said. That's down one percentage point from the week prior.