Chicago Board of Trade soyabean futures rose about 3 percent on Friday on supportive stocks and acreage figures from the US Department of Agriculture and spillover strength from wheat, traders said. CBOT September soyabeans settled up 26-1/4 cents at $9.47 a bushel and most-active November ended up 30 cents at $9.54-3/4, breaking through its 50-day moving average.
For the month, spot July soyabeans rose 26-1/4 cents or 2.9 percent. The USDA reported US June 1 soyabean stocks at 963 million bushels, below an average of trade expectations. The USDA put US 2017 soyabean plantings at 89.513 million acres, up from its March forecast of 89.482 million but below an average of trade expectations for 89.750 million.
CBOT August soyameal settled up $9.80 at $306.20 per short ton, following soyabeans higher. CBOT August soyaoil ended up 0.52 cent at 33.04 cents per lb. The CBOT reported 1,065 deliveries against CBOT July corn futures on first notice day, above trade expectations.
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