Soyabean futures fell more than 1 percent on Friday, setting back from a 2 percent rise a day earlier on worries about slowing US soya export demand and a rebound in the dollar. At the Chicago Board of Trade as of 11:52 am CDT (1652 GMT), CBOT January soyabeans were down 15-1/4 cents at $12.28-3/4 per bushel. December wheat was up 3 cents at $6.47 and December corn was up 2-1/2 cents at $6.54.
Soyabeans faced pressure from reminders of weak export demand for US soyabeans and increasing competition from South America, where soyabean planting is off to a favourable start. "They are expecting to see the crop going into the ground really smoothly," said Dewey Strickler, president of AgWatch Market Advisors. "It is good old-fashioned fundamentals, for once," Strickler said of the setback in soyabean futures.
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