Chicago Board of Trade soyabean futures declined on Friday, with the benchmark November contract hitting a one week low on news of US soyabean export sales cancellations, traders said. CBOT November soyabeans settled down 6-3/4 cents at $8.56-3/4 per bushel after dipping to $8.56-1/4, the contract's lowest since October 11.
CBOT December soyameal ended down $3.20 at $313.10 per short ton while December soyaoil rose 0.12 cent at 29.14 cents per pound. Soyabeans turned lower after the US Department of Agriculture said private exporters canceled sales of 180,000 tonnes of US soyabeans to China, the world's biggest buyer.
The USDA said exporters also canceled another 120,000 tonnes of optional-origin soyabeans sold to unknown destinations. The cancellations came a day after the USDA's weekly export sales report showed smaller-than-expected soyabean sales in the week to October 11.
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