US soyabean futures ended down sharply on Friday, falling 4-1/2 percent to a two-week low on spillover from plunging corn and early harvest of an expected record large US soybean crop. CBOT November down 49-3/4 cents per bushel at $10.57. Funds sold 10,000 contracts. Active harvest of the 2010 soyabean crop is expected for at least the next week to 10 days amid drier weather in the US Midwest and in the east and south.
Exporters sell 110,497 tonnes US soyabeans to China for 2010/11 delivery - USDA. Informa Economics raised its estimate of Brazil's 2010 soyabean crop to 69 million tonnes, up 700,000 from last month - trade. Informa cuts its estimate of Argentina's 2010 soyabean crop to 52 million tonnes, down 500,000 from last month - trade.
CBOT October soymeal down $16.40 per ton at $285.70. Spillover selling pressure from lower soyabean futures and deliveries on October combine to weigh on soymeal. Funds sold 4,000 contracts. Deliveries on October 436 contracts. CBOT October down 1.21 cent per lb at 43.49. Spillover pressure from falling soyabeans. Funds sold 5,000 contracts. Palm oil inches higher on oil gains, China demand eyed. US Census reports US soy oil stocks at 3.283 bln lbs in August. Deliveries on October 1,316 contracts.
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