Chicago Board of Trade soyabean futures rallied on Thursday on supportive weekly US export sales data and concerns about Brazil's soyabean crop, traders said.
The export sales data showed an impressive rebound from two weeks of negative sales, at a time when CBOT soya prices linger near a 15-1/2-year high, they noted.
CBOT soyabeans were up 1 cent to 17 cents, with May up 17 cents at $9.40-1/2 and new-crop November up 8-3/4 cents at $7.40-1/2 per bushel. ADM Investor Services bought 500 May, Cargill Investor Services bought 300 May and Refco Inc bought 300 July and 200 May early, traders said.
The US Department of Agriculture reported on Thursday US soyabean export sales last week totalled 267,900 tonnes, above trade estimates ranging from a minus 75,000 tonnes to positive 200,000 tonnes.
CBOT soyameal was up $1.30 per ton to $3.90 per ton, with May up $3.80 at $284.50. ADM Investor Services bought 200 May, brokers said.
CBOT soyaoil was up 0.20 cent to 0.52 cent per lb, with May up 0.52 cent at 32.92 cents. Man Financial bought 300 May early, traders said.
Weekly soyameal export sales totalled 95,600 tonnes, above traders' estimates for nil to 50,000 tonnes, and US soyaoil sales last week totalled 4,800 tonnes, near the high end of estimates for nil to 5,000 tonnes.
Deliveries on the March soyabean contract on Thursday totalled 260 lots. Registrations with the CBOT late Wednesday totalled 442 lots, unchanged from Tuesday. All CBOT March soya futures contracts end trade at midday Friday.
Comments
Comments are closed.