CHICAGO: Chicago Board of Trade soyabean futures rose on Friday, recovering from their biggest decline in more than two weeks on Thursday, on signs that overseas demand for US supplies remained strong.
Soyameal and soyaoil futures also were firm, with the most-active soyameal contract hitting its highest since June 2014.
Private exporters reported the sale of 132,000 tonnes of soyabeans to China for delivery in the 2021/22 marketing year, the US Agriculture Department said on Friday.
The benchmark CBOT May soyabean futures contract settled up 9-1/2 cents at $17.10-1/4 a bushel. CBOT May soyabeans found technical support at their 10-day moving average during the overnight trading session.
CBOT May soyameal ended up $2.00 at $487.90 per ton and CBOT May soyaoil was up 0.46 cent at 74.75 cents per lb. For the week, soyabean futures were up 2.5%, soyameal was up 2.3% and soyaoil was up 3.4%.
Meanwhile, Chicago Board of Trade corn futures firmed on Friday, recovering from a one-week low hit during the overnight trading session on some end-of-week bargain buying, traders said.
Traders also said that investors were staking out positions ahead of a US Agriculture Department report next week that will show how much corn US farmers plan to plant this spring.
The benchmark CBOT May corn futures contract settled up 5-3/4 cents at $7.54 a bushel. CBOT May corn broke through technical resistance at its 10-day moving average during the session. For the week, corn futures were up 1.7%.
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