CBOT soybeans climb on soymeal surge, Argentina weather

CHICAGO: Chicago Board of Trade soybean futures edged higher on Monday, lifted by steep gains in soymeal futures and concern dry weather could hurt yields in Argentina, traders said.

CBOT January soybean futures settled up 4-1/4 cents at $9.98-1/2 per bushel, a gain of 0.4 percent.

CBOT January soymeal ended up $7.30 at $337.50 per ton, rising 2 percent amid the crop worries in No. 1 soymeal and soyoil exporter Argentina.

CBOT January soyoil fell 0.25 cent at 33.44 cents per pound, easing in soymeal-soyoil spreading.

The CME Group reported 294 deliveries against CBOT December soymeal futures and 155 soyoil deliveries.