US soyabean futures climbed for a second consecutive session on Wednesday and hit a 5-1/2 month high as a drought-reduced South American crop and port congestion was expected to bolster demand for thinning US supplies this summer. Fund buying and chart-based buying above recent highs added support, along with supportive US soyabean crushing data released on Wednesday.
The actively traded May soyabean contract on the Chicago Board of Trade rose 0.4 percent to $13.54 a bushel by 12:46 pm CDT (1746 GMT), after earlier climbing to $13.60-3/4, a level last seen on September 21. New-crop November gained 0.2 percent to $13.13-3/4. CBOT May corn slipped 0.7 percent to $6.57-1/2 a bushel while new-crop December fell 1 percent to $5.62. CBOT May wheat shed 0.8 percent to $6.43-3/4.
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