Chicago Board of Trade soyabean futures declined on Friday as traders returned their focus to the massive US crop and the ongoing trade dispute with China, the world's top soya buyer. CBOT November soyabeans settled down 3 cents at $8.47-1/4 per bushel. However, for the week, the contract rose 16-3/4 cents or about 2 percent, its biggest advance in the last five.
CBOT December soyameal ended Friday down $5.50 at $308.90 per short ton while December soyaoil rose 0.48 cent at 28.34 cents per pound. At least two cargoes of US soyabeans are heading for China as some buyers are willing to risk taking up historically cheap US beans, even amid worries that Beijing may take further steps to deter imports amid mounting trade tensions with Washington.
The United States does not have a scheduled date to announce for another round of talks with China, a senior White House official said. The USDA said private exporters sold 100,000 tonnes of US soyameal to unknown destinations for delivery in the 2018/19 marketing year that begins October 1.
AgRural consultancy estimated that Brazilian farmers had planted soyabeans on 1.9 percent of expected area, above the five-year average of 0.3 percent. AgRural said favorable weather conditions have allowed for a quick start for soya and corn planting.