CHICAGO: Chicago Board of Trade soyabean futures firmed slightly on Friday, with traders noting some bargain hunting after the most-active contract notched its biggest decline since mid-October on Thursday.
South American crop prospects were in focus as traders waited for early harvest results from key export competitor Brazil.
The benchmark CBOT March soyabean futures contract found support at its 10-day moving average, a level it has not dipped below since Dec 16.
CBOT March soyabeans settled up 3/4 cent at $13.39-1/4 a bushel. For the year, soyabean futures were up 2.2%, their third straight annual gain.
CBOT March soyameal futures were down $4.60 at $399.10 a ton and CBOT March soyaoil was up 0.45 cent at 56.53 cents per lb.
March soyaoil settled above its 30-day moving average but failed to hold support above its 40-day and 100-day moving averages after trading above those key technical points during the session.
Chicago Board of Trade corn futures weakened on Friday, closing near session lows in thin consolidation trade.
The benchmark CBOT March corn futures contract settled down 2-3/4 cents at $5.93-1/4 a bushel, capping a year that saw the most-active contract post an annual gain of 22.4%. CBOT March corn dropped below its 20-day moving average.
US wheat futures fell on Friday, pressured by forecasts for winter storms in key growing areas of the US Plains that are expected to provide a much-needed boost to soil moisture, traders said.
CBOT March soft red winter wheat settled down 9 cents at $7.70-3/4 a bushel.
The contract found technical support at its 100-day moving average.
KC hard red winter wheat for March delivery was off 12-1/4 cents at $8.00-1/2 a bushel while MGEX March spring wheat was down 11-3/4 cents at $9.79-3/4 a bushel.
On a continuous basis, the front-month MGEX contract hit its lowest since Oct. 21.
The most-active soft red winter wheat contract rose 20.3% in 2021, its fifth straight yearly gain and its biggest since 2010.
Jordan’s state grain buyer has issued an international tender to buy 120,000 tonnes of milling wheat, which can be sourced from optional origins.