CBOT soybeans lag as traders await rains in Brazil
Corrects third bullet to show December soyoil BOZ24 closed down, instead of up, and fourth bullet to show soybeans fell 2.6% for the week, not 1.85%
CHICAGO, Oct 4 (Reuters) -Chicago Board of Trade soybean futures dipped on Friday as traders anticipated beneficial rains next week in northern Brazil and a rising dollar weakened U.S. exports.
CBOT November soybeans SX24 settled down 8-1/4 cents at $10.37-3/4 a bushel.
Most-active December soymeal SMZ24 ended down $2.00 at $330.50 per short ton.
December soyoil BOZ24 closed down0.56 cent at 43.97 cents per pound.
For the week, most-active November soybeans Sv1 fell 2.6%.
Analysts said the long-awaited monsoon is expected to begin with rains late next week in Brazil after dry weather slowed planting.
The strong dollar spurred by better-than-expected September jobs numbers weakened futures, as rallies in the dollar tend to make U.S. exports less competitive.
Prices of byproduct soymeal SMv1 also continued falling after the European Commission proposed delaying new anti-deforestation rules. The rules have recently boosted demand for U.S. soymeal over South American supplies, according to analysts.
Reporting by Renee Hickman; Editing by Mark Porter
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