US soyabeans notched a one-week high on Friday and were headed for their third straight weekly gain amid growing export demand and forecasts for lower production in South America. Rains were forecast next week in key growing regions in Argentina but dry weather over the past month is likely to reduce yields in the No 3 world soya exporter.
Soyabeans for March delivery were up 6 cents at $12.23 per bushel on Friday and on pace to gain 0.3 percent for the week and about 2 percent for the year. CBOT corn and wheat futures each edged lower on Friday, pressured by a firmer dollar and moderating temperatures in wheat regions in Europe and the Black Sea region.
CBOT March corn fell 4 cents to $6.39 per bushel and CBOT March wheat eased 5-1/2 cents to $6.57-1/4. Each grain contract opened higher but quickly lost ground. Wheat was on track to gain 1.7 percent for the week while corn was on pace to ease 0.3 percent.
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