Chicago Board of Trade soyabean futures were mostly lower on Friday as traders anticipated a substantial advance in the US soya harvest, brokers said.
"This weekend's soyabean harvest should be active, with possibly up to 8 percent of the total harvest done by Sunday," one CBOT floor broker said. "Weekend and longer-term weather forecasts are also good for finishing the crop."
Reports of good early harvest yields, consistently above the US Department of Agriculture's average estimate of 38.5 bushels per acre, also continued to weigh on CBOT soya, they noted.
Soyabean futures were last down 2-1/2 cents to up 1/4 cent, with November down 1-1/4 cents at $5.56 and January down 2-1/4 cents at $5.63.
Losses were limited by oversold conditions, brokers said. The nine-day relative strength index for November was last at 15, well below the benchmark 30 level commonly seen as indicating oversold levels.
CBOT soyameal futures were last down $1.00 per ton to up $1.60, with October down 30 cents at $163.50 and December down 40 cents at $165.30 per ton.
Cargill Investor Services sold 300 December, Refco Inc bought 200 December and Tenco Inc and Prudential Securities each sold 100 December, brokers said.
Cash US soyameal basis offers were weak early Friday, dealers said. Canadian weekly oilseed crush data showed a 21.1 percent week-over-week boost in soyabean crush and a 12.8 percent decline in canola crush.
Soyaoil futures were last down 0.05 cent per lb to 0.23 cent per lb, with October down 0.22 cent at 22.21 cents and December down 0.20 cent at 21.98 cents, after hitting a one-month low of 21.86. There were no deliveries posted on Friday against the expired CBOT September soyaoil contract.
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