Chicago Board of Trade (CBOT) soyabean futures rose for the fifth time in six sessions on Friday on rising demand from top importer China following an easing of trade tensions with the top soya importer. CBOT July soyabeans ended up 5-3/4 cents at $10.41-1/2 a bushel. The contract ended the week up 4.1 percent, the strongest weekly gain for the market's most actively traded contract since early July 2017.
CBOT soyameal futures were also higher while soyaoil declined. An easing of trade tensions between Washington and Beijing has sparked renewed US soyabean demand from China, the world's top importer. But margins in China are thin and inventories are high. Through its daily reporting system, the US Department of Agriculture confirmed private sales of 312,000 tonnes of US soyabeans and 165,000 tonnes of optional-origin soyabeans to China via its daily reporting system. A nationwide truck drivers' protest in Brazil has been slow to wind down despite an agreement to end the mobilization, with many highway blockades in place Friday for a fifth straight day rattling sectors from agribusiness to automaking.
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