Soybean futures on the Chicago Mercantile Exchange (CBOT) saw a drop in prices, particularly for meal, while oil prices increased. The drop in prices was despite strong demand for North American soybeans and the announcement of sales of 198,000 tons of soybeans to undisclosed destinations, including 132,000 tons to China. The market was influenced by forecasts of favorable weather conditions for planting in Brazil and the appreciation of the dollar against other currencies. Soybean contracts for delivery in January 2025 closed down 0.75 cents, or 0.07%, at US$9.93 3/4 per bushel, and soybean meal for December fell US$4.20, or 1.4%, closing at US$295.30 per ton.