CHICAGO: Chicago Board of Trade soyabean futures closed higher on Thursday on forecasts for stressful US crop weather that could crimp production, and position-squaring ahead of key US Department of Agriculture monthly crop reports due on Friday, traders said.
CBOT August soyabeans settled up 4 cents at $8.96-1/2 per bushel after reaching $9.04-1/4, its highest since March 6. New-crop November soyabeans settled up 4-1/4 cents at $9.01-1/2.
CBOT August soyameal ended up $3.50 at $297.30 per short ton while August soyaoil fell 0.26 cent to finish at 28.29 cents per pound. Hot and dry weather over the next 10 days is expected to significantly increase crop stress across the central and southern Midwest, space technology company Maxar said in a daily weather note.
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