CBOT soyabean futures higher

CHICAGO: Chicago Board of Trade soyabean futures closed higher on Wednesday as renewed purchases of the US oilseed from China offset renewed tensions between the two countries.

CBOT August soyabean futures settled up 2-3/4 cents at $8.99-1/4 per bushel, while November soyabean futures added 2-1/2 cents to $8.95-1/2 per bushel. CBOT December soyaoil ended down 0.16 cent at 30.52 cents per pound, while December soyameal added $0.90 to finish at $294.20 per ton.

Private exporters reported the sale of 453,000 tonnes of soyabeans to China and 211,300 tonnes to unknown destinations, the US Department of Agriculture said. Additionally, there were export sales of 262,000 tonnes of soyabeans to China received in the reporting period, USDA said.