By
US soyabean futures settled weaker on Friday on profit taking after the most-active contract rose to its highest price since June 2018. Traders took profits after hopes for increased Chinese demand helped lift prices, analysts said. China committed to buy more US farm goods in a recently struck Phase 1 trade agreement, but details of the purchases have not been announced.
A run-up in palm oil prices supported soya futures, traders said. Malaysian palm oil futures climbed for a third straight session, as forecasts for lower production and higher domestic consumption boosted prices to a near three-year high.