Chicago Board of Trade soyabean futures fell on Friday on pressure from the ongoing US harvest following a week of favourable weather for fieldwork in the core Midwest crop belt, traders said. CBOT November soyabeans settled down 7-3/4 cents at $9.78-3/4 a bushel. For the week, the contract fell 21-1/2 cents or about 2 percent.
CBOT December soyameal ended down $$4.30 at 317.10 per short ton. CBOT soyaoil bucked the weak trend, with the December contract finishing up 0.33 cent at 34.16 cents per pound after reaching 34.47 cents, its highest since September 22.
Soyaoil rose on news that the US Environmental Protection Agency will keep volume mandates for renewable fuel - including soya-based biodiesel - for next year at or above proposed levels, reversing a previous move to open the door to cuts.
Confirmation of fresh export business failed to buoy soyabean futures. The US Department of Agriculture said private exporters sold 198,000 tonnes of US soyabeans to China for delivery in the 2017/18 marketing year, the second soyabean sale to China in as many days.