US soya futures fell on Friday on profit taking before the release on Monday of USDA's March plantings report. Signs the Argentine farmers strike may end soon also weighed on prices. Some nervous liquidation as CME Group increases margins and trading limits on soya.
CBOT soya closed 42 to 61-3/4 cents per bushel lower, with May down 57-1/4 at $12.70 per bushel. Talk Argentine farmer strike may soon end weighs on soya complex. Argentine president defends export taxes on farm goods. Trade expecting USDA on Monday to show 2008 US soya plantings 71.721 million acres and soya stocks 1.355 billion bu.
Goldman Sachs estimates 2008 US soya acreage 71.3 million. US cash soya steady to firm. Soyameal ended $3.60 to $9.50 per ton lower, with May down $4.80 at $344.00 per ton. Followed soya lower on profit taking. Soyaoil closed down 1.50 to 2.50 cents per lb, with May down 2.50 at 54.98 cents per lb.
Profit taking, with declines in crude oil and gold adding pressure. Census revised upward its ending February soyaoil stocks in US to 3.1 bln lbs from Thursday's reported 2.7 bln.
Market trading with newly expanded 2.5-cent limit.
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