CHICAGO: Chicago Board of Trade soyabean futures rose on Tuesday after their biggest daily decline since April 1 a day prior as continued buying from China and destinations unknown lifted the market, traders said.
CBOT November soyabeans settled 2-3/4 cents lower at $10.19-3/4 per bushel.
CBOT December soyameal ended up $2.90 at $341.00 per short ton while December soyaoil finished down 0.60 cent at 33.60 cents per pound.
The front four CBOT soyameal futures contracts set life-of-contract highs on Tuesday.
Exporters sold 266,000 tonnes of US soyabeans to China and 264,000 tonnes to unknown destinations, according to the US Department of Agriculture, marking the 13th consecutive business day of sales to China.
The US soyabean crop was 6% harvested, matching the five-year average and just ahead of the average analyst estimate of 5%, according to the US Department of Agriculture’s crop conditions report released Monday after the markets closed. Soyabean ratings held steady with 63% of the crop rated good-to-excellent while analysts on average had expected a 1-point decline.
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