CHICAGO: Chicago Board of Trade soyabean futures fell on Friday on a round of fund selling ahead of the weekend as prospects for harvest in Argentina improved.
Weakness in the crude oil market added pressure to soya futures. Recent rains have brought badly needed relief to much of Argentina’s parched agricultural land, the Buenos Aires Grains exchange said.
The benchmark CBOT March soyabean futures contract settled down 14 cents at $15.09-1/2 a bushel. The contract fell below a key technical support line at its 10-day moving average.
CBOT March soyameal futures were down $3.60 at $473.50 a ton and CBOT March soyaoil lost 0.17 cent to 60.62 cents per lb.
For the week, soyabean futures gained 0.2% and soyameal futures were up 2.1%.
Soyaoil futures were down 2.2% this week, their fifth straight weekly loss.
US WHEAT FUTURES END MIXED
US wheat futures were mixed on Friday, with contracts that track high-protein supplies rising on concerns over a cold snap damaging crops in the US Plains.
But the most-active Chicago Board of Trade soft red winter wheat contracts eased after notching their biggest weekly gain in four weeks.
CBOT CORN FIRM
Chicago Board of Trade corn futures ended firm on Friday, supported by improving demand prospects and technical buying, traders said. The benchmark CBOT March corn futures contract settled up 1/2 cent at $6.83 a bushel.