US soyabean futures closed lower on Friday, weighed down by a firm dollar despite persistently strong export and domestic demand for US soya. CBOT January down 4 cents at $10.43 a bushel. Funds sold 3,000 lots. Exporters sell 232,000 tonnes US soyabeans to China for 2009/10 delivery. - USDA.
Mostly satisfactory weather expected for the final harvest of the US soya crop but a winter storm set to move into the area next Tuesday might stall final cuttings. Soya sales to China fading seasonally, eye on EU demand. Spot basis bids for soyabeans steady to weak around US Midwest early on Friday. Farmer selling slow. CBOT December soyameal down 60 cents per ton at $320.90 a ton, January down $1.80 at $310.70.
Firm dollar contributing pressure as did unwinding of meal/oil spreads. Funds sold 1,000 lots. No deliveries on December. CBOT December soyaoil up 0.01 cent at 39.76 cents per lb, January up 0.01 cent at 40.13 cents. Support from some unwinding of meal/oil spreads. Funds were even. Palm oil hits six-month high on bullish outlooks. Deliveries on December 682 lots.
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