Soyabean futures at the Chicago Board of Trade closed lower on Friday, sliding to a nine-month low on disappointing weekly export sales, traders said.
The market was also technically weak going into the session after closing weak on Wednesday, the day before the US Thanksgiving holiday. CBOT agricultural markets closed on Friday at noon CST (1800 GMT).
January soyabeans settled 7-3/4 cents lower at $5.54-1/4 per bushel. The deferreds were 6-1/2 to 8-1/2 cents weaker.
The US Department of Agriculture reported that US soyabean export sales last week were at a marketing-year low of 219,500 tonnes and below trade estimates for 500,000 to 700,000 tonnes.
"The export sales numbers confirming the low export sales pace is very dismal," said analyst Dan Cekander with Fimat Futures. Top global buyer China booked only 2,900 tonnes but it was the biggest shipper with 380,900 tonnes.
The sales report was delayed one day due to the holiday. The Commodity Futures Trading Commission commitments of traders report will also be delayed one day and is slated for release on Monday, according to the CFTC web site.
Bearish factors in soyabean futures include ongoing concerns about reduced global feed demand due to the spread of bird flu in Asia and mostly good weather for the planting and development of the South American soyabean crop.
Private forecaster Meteorlogix said Brazil had mostly dry weather on Wednesday and scattered showers on Thursday. Scattered showers were expected on Friday in northern crop regions, followed by mostly dry conditions on Saturday through on Tuesday.
However, Somas forecasters said rains in Mateo Gross, Brazil's No 1 soya state, over the next five days will disrupt planting. Dry weather was forecast for southern Brazil through on Wednesday.
Argentina had rain on Wednesday followed by dry weather, which was expected to continue through on Sunday. Midwest spot basis bids for soyabeans were firm on Friday, underpinned by a lack of farmer sales.
The soya products followed the weakness in soyabeans, with soyaoil under the greatest pressure amid technical selling by commodity funds.
Commercials took advantage of the dip and were noted net buying about 1,500 soyaoil contracts.
December soyaoil settled 0.50 cent per lb. lower at 21.13 cents, with the deferreds down 0.46 to 0.54. December soyameal was 60 cents lower at $170.10 per ton, with the deferreds down 80 cents to $1.60.
Funds sold 2,000-2,500 soyabean futures, 2,000-2,500 soyaoil and 1,500 soyameal, traders said. Underpinning the products were larger-than-expected weekly export sales.
USDA said on Thursday that US soyameal export sales last week reached 143,200 tonnes, above trade estimates for 75,000 to 125,000 tonnes. Weekly US soyaoil export sales were 11,600 tonnes, compared with estimates for 4,000 to 9,000 tonnes.
Malaysian palm oil rose on Friday after players moved to cover shorts with Chicago open-outcry markets closed on Thursday due to the Thanksgiving Day holiday.