US soyabean futures closed ended lower on Friday as outlooks for a record large US soya crop for this year's harvest, a firm dollar, lower crude oil and weak equities combine to weigh on market. September soyabeans ended down 7-1/2 cents per bushel at $10.09-1/4 on Friday, while November closed down 8-1/4 cents at $10.04.
Talk China may sell soyabeans from its reserves also weighing on market. Funds sold 2,000 contracts. After the close, ProFarmer pegged 2010 US soyabean production at a record 3.5 billion bushels, below USDA's current forecast for 3.433 billion.
Exporters sell 100,000 tonnes US soya to Egypt for 2010/11 delivery. Improved chance for showers over the next 24 to 48 hours in the dry areas of the US southern Midwest, which would help ease stress on pod-setting soyabeans and boost production prospects.
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