Chicago Board of Trade soyabean futures slipped on Friday on technical selling, as traders began positioning ahead of a US grain stocks report slated for Monday, traders said. Prices were underpinned by a spate of recent US soyabean purchases by top global buyer China, traders said. The US Department of Agriculture reported on Friday that private exporters sold 126,000 tonnes of US soyabeans to China for delivery in the 2019/20 marketing year that began September 1.
CBOT November soyabeans settled down 5-1/2 cents, at $883 per bushel on Friday. The most-actively traded contract ended the week up 1/4-cent, up 0.02%.
CBOT December soyameal ended down $0.50 at $295.10 per short ton and December soyaoil fell 0.33 cent to settle to 28.84 cents per pound. The US Department of Agriculture will release its quarterly grain stocks report on Monday.
Analysts surveyed by Reuters on average expect the government to report US September 1 soyabean stocks at 982 million bushels, which would represent the highest September 1 figure on record.
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