CBOT soybeans rise on positioning, US crop uncertainty

CHICAGO: Chicago Board of Trade (CBOT) soybean futures rose on Monday on position squaring amid

uncertainty about US plantings and yield potential after a wet spring, traders said.

* The benchmark CBOT July soybean futures contract settled up 2-1/4 cents at $8.58-1/2 a bushel.

* CBOT July soymeal ended up $1.10 at $313.40 per short ton and July soyoil was flat at 27.38 cents per pound.

* Traders are waiting for the US Department of Agriculture to issue a monthly supply and demand report on Tuesday. The agency is expected to trim its estimates for corn and soybean yields from May.

* Analysts expect the USDA, in a separate, weekly report due at 3 p.m. CDT (2000 GMT) on Monday, will report that soybean plantings were 56% complete as of Sunday. That would be up from 39% a week earlier.

* The US Commodity Futures Trading Commission said on Friday that speculators held a net short position in soybean futures in the week ended June 4.