Soyabean futures on the Chicago Board of Trade closed higher on Tuesday, climbing in late trading after front-month March triggered buy-stops and closed near session highs, traders said. Funds turned buyers in the afternoon, purchasing an estimated 5,000 contracts, floor sources said.
In addition, traders said they expect ending stocks in US Department of Agriculture's February supply and demand report will be tighter - providing prices with additional upside momentum. CBOT March soyabeans ended up 9-3/4 cents at $14.34-1/4 per bushel, while new-crop November was up 11-1/2 cents at $13.77-1/2. March soymeal ended up $3.30 at $385.70 per ton. March soyoil up 0.36 cents at 58.77 cents per lb. March soymeal up $3.30 at $385.70 per ton. March soyoil up 0.36 cent at 58.77 cents per lb.
Comments
Comments are closed for this article.