US soyabean futures rose to a 5-1/2 week high on Wednesday, due to strength in corn, dryness in Argentina and a strike at Argentine crushing plants that may slow shipments from the world's largest soyoil exporter. CBOT January soyabean up 2-1/2 cents at $13.28-3/4 per bushel. It traded from $13.17-1/2 to $13.33, the highest price since November 12. Funds bought an estimated net 3,000 contracts.
Exporters sell 110,000 tonnes US soyabeans to China for 2011/12 crop year -USDA. CBOT January soymeal up 10 cents per ton at $352.70. Funds sold an estimated net 1,000 contracts. Support from gains in soy but oil/meal spreading limits gains. CBOT January soyoil up 0.41 cent at 55.97 cents per lb. Funds bought an estimated net 5,000 contracts.
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