Chicago Board of Trade soyabean futures closed higher Friday, supported by technical buying after a choppy, back-and-forth session, traders said. CBOT July soyabeans settled up 2-3/4 cents at $10.21-1/4 per bushel but stayed inside the previous day's trading range. For the week, the contract fell 20-1/4 cents or 1.9 percent.
CBOT July soyameal ended down $1.10 Friday at $374.20 per short ton while July soyaoil rose 0.07 cent at 31.19 cents per pound. Rallies capped by jitters about US trade relations with China, the world's biggest soya buyer, as US Commerce Secretary Wilbur Ross heads to Beijing for weekend trade talks.
The US Department of Agriculture (USDA) reported export sales of US soyabeans in the latest week at 1,045,000 tonnes (old and new crop years combined), in line with trade expectations.
The USDA reported weekly soyameal export sales at 143,000 tonnes (old and new crop years combined), in line with trade expectations, and soyaoil sales at 6,000 tonnes (all 2017/18), below trade expectations.