Soyabean futures at the Chicago Board of Trade fell hard on Friday on a profit-taking setback ahead of the long US holiday weekend, traders said. The move was ignited by sharply lower CIF soya values at the US Gulf, after firming most of this week. January soyabeans led the market lower as commercials exited their long positions before expiration at 12:01 pm CST (1801 GMT).
CBOT soyabeans posted double-digit declines in all the nearby months, with January down 17-1/2 cents at $5.40 per bushel but still trading at a hefty premium of 16 cents to March. The March contract was 12-1/2 cents lower at $5.24 by 10:50 am CST (1650 GMT).
Soyameal futures fell sharply after sell-stops were triggered early in the session. January meal was under the least amount of pressure before midday expiration - down $2.20 at $165.50 per ton. March was $5.30 lower at $156.30.
NOPA's monthly crush data for meal was also bearish, traders said.
Soyaoil futures were also weaker following soyabeans, but January was unchanged at 19.96 cents per lb before expiration. March soyaoil was 0.33 cent lower at 19.75 cents.
CBOT agricultural markets will be closed on Monday in observance of the Martin Luther King Jr. Day holiday, reopening with the evening electronic session.