US soyabeans extend rally

Soyabean futures on the Chicago Board of Trade rose for a sixth straight session on Monday, climbing 1.7 percent as forecasts for hot, dry weather stoked fears about crop prospects in Argentina, the world's No 3 soy exporter, traders said. CBOT January soyabeans settled up 23-1/2 cents at $13.73 per bushel, after reaching $13.78-1/4, highest spot soy price in 27-1/2 months.
January soymeal ended up $6.40 at $366.40 per ton. January soyoil up 0.56 cent at 57.15 cents per lb, after reaching 58.05 cents, highest spot soyoil price since August 1, 2008. Contract highs set in soyabeans, soymeal and soyoil.