Front-month soyabean futures on the Chicago Board of Trade rose Friday on short-covering ahead of a long holiday weekend on strength in soyaoil, but posted a yearly decline about 4 percent, reflecting bumper US and South American harvests. The spot January contract climbed 6 cents Friday to end at $9.51-3/4 a bushel, compared with the closing 2016 spot futures price of $9.96-1/2.

CBOT most-active March soyabeans settled up 5 cents Friday at $9.61-3/4 per bushel. CBOT March soyameal settled up 70 cents Friday at $316.80 per short ton.

CBOT March soyaoil rose 0.55 cent Friday to 33.26 cents per pound, erasing most of Thursday's decline, as crude oil futures firmed on strong global demand. Soyaoil sometimes follows crude oil due to its use as a feedstock for soya-based biodiesel fuel. However, US biodiesel production fell to 146 million gallons in October, from 147 million a month earlier, the US Energy Information Administration reported.

US markets will be closed Monday for the New Year's Day holiday. Trade in CBOT grains will resume Tuesday at 8:30 am CST (1430 GMT). The US Department of Agriculture reported export sales of US soyabeans in the latest week at 1,056,000 tonnes (old and new crop years combined), in line with trade estimates for 800,000 to 1.5 million tonnes.

The CME Group reported 20 deliveries against CBOT January soyabean futures on first notice day, below trade expectations for 100 to 500 lots.

Copyright Reuters, 2018