CHICAGO: Chicago Board of Trade (CBOT) soybean futures ended higher on Friday, reversing course after falling to a two-month low as investors held onto hopes for an eagerly awaited US-China trade deal.
* CBOT May soybeans ended up 1-1/4 cents at $9.11-1/2 per bushel. The most-active contract posted a weekly increase of almost 0.14 percent.
* CBOT May soymeal was up $1.40 at $307.4 per short ton, while May soyoil ended down 0.01 cent at 30.24 cents per pound.
* Worries about export competition capped gains. The Brazil 2018/2019 soybean harvest was estimated at 113.027 million tonnes in March versus 112.195 million tonnes in February, INTL FCStone said Friday.
* Brazil's soybean exports are expected to fall in March, according to market participants and shipping data.
* The US Department of Agriculture reported on Friday the US January soybean crush at 182.8 million bushels.
* Bloomberg reported on Thursday afternoon that a summit between US President Donald Trump and his Chinese counterpart Xi Jinping to sign a final trade deal could happen as soon as mid-March.
* Investors are still awaiting confirmation after US Agriculture Secretary Sonny Perdue said Friday on Twitter that China had committed to buy an additional 10 million tonnes of US soybeans.
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