Chicago Board of Trade (CBOT) soyabean futures fell for the third time in four sessions on Friday after the US Department of Agriculture (USDA) left its US crop forecast unchanged in a monthly report, bucking market expectations for a cut, traders said.
Renewed concerns about an interim trade deal with China added pressure. US President Donald Trump said he has not agreed to rollbacks of US tariffs sought by China, sparking fresh doubts about when the world's two largest economies might end a 16-month trade war.
CBOT November soyabeans were 5-1/2 cents lower at $9.19-1/2 per bushel while January futures, the most actively traded contract, closed down 5-1/2 cents at $9.31 a bushel.
For the week, January futures were down 0.6%, the third weekly drop in four weeks.
CBOT December soyameal ended 70 cents lower at $304.90 per short ton, while December soyaoil gained 0.07 cent to settle at 31.50 cents per pound.
The USDA forecast 2019/20 US production at 3.550 billion bushels, with yields seen at 46.9 bushels per acre. Both were unchanged from USDA's October view and above average trade expectations.
Through its daily reporting system, the USDA also said private exporters sold 270,000 tonnes of US soyabeans to unknown destinations for delivery in the 2019/20 marketing year.
The CBOT reported no deliveries against the November contract, which expires November 14.
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