CHICAGO: Chicago Board of Trade soyabean futures ended firmer on Monday on concerns about unfavorably dry US crop weather, but pared gains after touching a two-year high. November soyabeans closed 3 cents higher at $9.53-1/2 a bushel. The most-active contract touched its highest price since June 2018 at $9.66-3/4.
December soyameal futures rose $2.80 to $312.50 per short ton and set its highest prices since March. December soyaoil set its highest price since January before ending down $0.38 at $32.86 per pound.
Analysts expect the US Department of Agriculture, in a weekly crop-progress report due on Monday, to rate 66% of the country's soyabean crop as good to excellent, down 3 percentage points from last week.
The US soyabean crush is expected to have increased in July after three straight monthly decreases, rising to 5.491 million short tons, or 183.0 million bushels, according to a Reuters survey ahead of a USDA report due on Tuesday.
Comments
Comments are closed.