CBOT soybean futures closed lower on Monday, with the March contract settling at 1,062 cents per bushel, down 6 cents. Although the latest weekly export inspections to China reached 897,000 metric tonnes, significantly higher than the same period last yearproviding fundamental support to the marketthe rally to a four-week high still faced pressure from some profit-taking by long positions. In the near term, drought risks in South America, particularly in Argentina, continue to lend uncertain support to the market, and prices are likely to remain volatile with a moderately firm bias.