US nearby soyabean futures fell below $9 a bushel on Friday for the first time in nearly two months, pressured by improving crop weather in South America along with fears that an interim Sino-US trade deal could be pushed back to next year, analysts said.
Corn and wheat futures were higher. As of 1:05 p.m. CST (1905 GMT), Chicago Board of Trade January soyabeans were down 5 cents at $8.96 per bushel after dipping to $8.95-3/4, the lowest spot price on a continuous chart since Sept. 30.
CBOT December corn was up 1 cent at $3.69-1/2 a bushel while December wheat was up 8-1/4 cents at $5.17-1/4 a bushel, but stayed inside of Thursday's trading range.
Soyabean futures fell for a third straight session as forecasts called for beneficial rains in crop areas of Brazil and Argentina, the world's No. 1 an No. 3 soya producers. The United States is the No. 2 soya grower.
The soya market has also been pressured by uncertainty about prospects for a US trade deal with China, the world's biggest soya importer. US President Donald Trump told Fox News a trade deal was "potentially very close", adding to optimism following remarks by President Xi Jinping that Beijing wanted to work out an initial agreement.
Reports earlier in the week had indicated a truce could be delayed to 2020.
CBOT corn firmed on signs of improving demand from exporters and domestic processors and firm domestic cash values. Some traders may be liquidating long soya/short corn spread positions ahead of the Nov. 28 US Thanksgiving holiday, as well as first notice day for deliveries against CBOT December futures contracts, on Nov. 29.
CBOT wheat rose on short-covering coupled with worries about a drop in US wheat acres. The slow pace of the US corn and soyabean harvest this autumn may have limited the number of winter wheat acres planted for harvest in 2020, Gerlach and others said.
US farmers planted 45.2 million acres to wheat overall for 2019, the fewest in US Department of Agriculture records dating to 1919.
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