PARIS/SINGAPORE: Chicago soyabean futures were little changed on Friday, hovering near a two-week low as the market assessed shifting US crop conditions and an export outlook marked by brisk Chinese demand and a strong dollar.
Corn eased to hold close to a two-week low from the previous session, while wheat also edged down as it consolidated below last week's 8-1/2 year high.
The most-active soyabean contract on the Chicago Board Of Trade (CBOT) was down half a cent at $13.19-1/2 a bushel by 1213 GMT. On Thursday, it had slid to its lowest level since Aug. 4 at $13.14-1/4.
US soyabean prices have been curbed by rain forecast in dry northwestern growing belts along with a rally in the dollar that tempered export optimism generated by a run of sales to China.
The rally in the dollar, which hit a new 9-1/2-month high against major peers on Friday, stoked broad selling in commodities on Thursday.
"The ongoing appreciation of the dollar (...) is changing the outlook for US export activity," consultancy Agritel said.
"The evolution of the weather situation will remain important to follow in the coming weeks."
The soyabean and corn markets are watching for final results from a major annual Midwest field tour.
On Thursday, scouts on the Pro Farmer crop tour projected corn yields and soy pod counts in Iowa above the three-year tour average, but below-average levels in Minnesota. CBOT corn was down 0.6% at $3.47-1/2 while CBOT wheat inched 0.1% lower to $7.42.
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