Soyabeans ends mixed

Chicago Board of Trade soyabean futures ended mixed on Friday after a volatile session, with the nearby months supported by gains in soyameal, traders said.
The CBOT soyabean market spent most of the session lower, pressured by long liquidation before the three-day holiday weekend and weakness in the US cash market.
But the front months turned higher late on Friday, following a turnaround in soyameal futures.
Traders began covering their short positions in soyabeans and soyameal about before a USDA press conference, as they waited to see if the government made an announcement regarding US feed rules.
There was no announcement on feed rules, but USDA Undersecretary J&B. Penn said Mexico likely will ease its ban on US beef soon.
By the close, CBOT soyabean futures were 1-1/2 cent higher to 1-1/2 cents lower. March ended 3/4 cent up $8.35-3/4 a bushel.
Overnight e-CBOT trading will be closed on Sunday, and the CBOT open-outcry session will be closed on Monday for the Martin Luther King Jr. Day holiday.
Soyameal futures ended mixed, up $1.40 to down 50 cents per ton, as the nearby months turned up late. March ended $1.40 higher at $258.50 on late short covering.
The market continues to wait for an announcement from the US Food and Drug Administration on a possible expanded ban on the use of meat and binomial to poultry and pig feed.
There had been talk this week that such a ban may be implemented, which could have triggered a sharp boost in the use of soyameal as a protein source in feeding rations and rallied March soyameal to over $260.00 per ton on Wednesday.
CBOT soyaoil futures ended mostly lower, 0.25 cent down to 0.03 cent up, with March down 0.25 at 29.62 cents per lb. Weakness in soyabeans and soyameal pressured soyaoil. Traders were also taking profits after this week's rally to near 10-year highs when soyaoil futures surpassed 30 cents.
Malaysian palm oil futures closed higher overnight but traders in Kuala Lumpur said the gains were notched on speculative buying in an attempt to narrow a yawning discount against prices of rival soyaoil.
In the futures delivery market, there were no January soyabean, soyameal or soyaoil deliveries.
On Friday is the last day for soyabean and meal deliveries against the expired January contract. The last delivery day for January soyaoil deliveries is January 30.