CBOT soya ends mixed

Chicago Board of Trade soyabean futures closed mixed on Friday, with nearby contracts weak on worries about Chinese demand and deferred higher on spreading and a recovery from recent losses, traders said.
CBOT agricultural markets will be closed on Monday in observance of the US Memorial Day holiday.
Soyabeans settled down 14-1/2 cents to up 16 cents, with July down 8 cents at $8.14 and November up 11-1/2 cents at $6.84-1/2.
Commodity funds bought at least 3,000 lots and commercials were net sellers, brokers said.
Many Chinese crushers have had liquidity problems following Beijing's move to a tighter monetary policy and after bird flu dampened Chinese soyameal demand. Moreover, the Chinese importers bought many of the soya cargoes when CBOT soya prices and global freight rates were at multiyear highs.
The slowing of Chinese demand for soya is worrisome to CBOT traders as unprecedented Chinese demand for US soyabeans helped lift CBOT soya futures to this spring's 16-year top.
Soyameal ended down $2.60 per ton to up $1.90, with July down $2.50 at $254.80 and December up $1.90 at $215.70 per ton. Commodity funds sold at least 2,000 lots and commercials were also net sellers, brokers said.
Soyaoil futures closed up 0.22 cent to 1.15 cents per lb, with July up 0.47 cent at 28.05 cents. Commodity funds bought at least 2,000 lots and commercials were net sellers, brokers said.
Soyaoil found support from a reversal and firm close in rival Malaysian palm oil futures on Friday, brokers said.
The US soya crop was 67 percent planted and 41 percent emerged by last Sunday, according to the US Department of Agriculture.
Cash Midwest soyabean basis bids were steady to soft on Friday. CBOT soyabean futures crush margins ended up 7.67 cents at 55.11 cents per bushel.
Friday's estimated CBOT volume for soyabean futures was 51,860 contracts, compared with Thursday's trade of 87,093 lots. Options volume was seen at 35,493 lots.
Estimated volume for soyameal was 36,690 for futures and 4,979 for options.
Soyaoil volume was estimated at 22,997 for futures and 1,828 for options.