Chicago Board of Trade soya futures were mixed on Friday, with nearbys up on concerns about Brazilian crop losses and on hopes for better Asian soya demand as the continent's bird flu epidemic was termed "under control," brokers said.
CBOT soyabeans were up 8 cents per bushel to down 3 cents, with May up 6 cents at $9.50, and new-crop November down 5 cents at $7.35.
ADM Investor Services bought 300 May and FC Stone and Refco Inc were also early buyers of May, brokers said. Chart support for May soyabeans held at Thursday's low of $9.30 per bushel, while technical resistance at Thursday's high of $9.51-1/2 was quickly broken.
March soyabean futures rallied sharply early, to a high of $9.64, ahead of the 12:01 p.m. CST (1801 GMT) expiry on Friday.
ABN Amro spread at least 50 March/May early, boosting the expiring contract, while traders also noted support from strong stopping of Friday's 295 deliveries. Term Commodities stopped 77 lots and a Century customer 100.
Open interest in CBOT March soyabeans had dropped to 577 lots by Friday morning, while open interest in March soyameal and March soyaoil was 462 and 364 contracts, respectively.
CBOT soyameal was up 20 cents to $2.50 per ton, with May up $1.90 at $288.50. CBOT soyaoil was up 0.10 cent per lb to down 0.27 cent, with May down 0.17 cent at 33.02 cents. A mixed close in rival Malaysian palm oil futures weighed on CBOT soyaoil, traders said.
Comments
Comments are closed.