Soybean drops

SYDNEY: U.S. soybeans fell 0.5 percent on Friday to hit a four-month low as ample global stocks continued to weigh on the oilseed, which was poised to finish the week in negative territory for a third consecutive week.

Corn edged lower, with the grain poised to finish the week down 3 percent, while wheat was on course to post its biggest one-week fall since 2016. The most active soybean futures on the Chicago Board Of Trade fell 0.5 percent to $9.86 a bushel, the lowest since Nov. 18. Soybeans closed down 0.9 percent on Thursday.

Soybeans are down nearly 1.5 percent for the week, the third straight weekly loss.

Analysts said soybeans remain under pressure from ample global supplies, despite the recent strong demand for U.S. supplies.