US soyabean futures closed higher on Thursday on big exports of US soya, firm cash markets, an Argentine port strike and unwinding of grains/soya spreads. CBOT March up 14 cents at $13.99-1/2 per bushel. Funds bought an estimated net 5,000 contracts.
USDA said US soyabean export sales last week totalled 940,300 tonnes, above the range of estimates for 600,000 to 800,000 tonnes. US Census reports soya crush for December 153.05 million bushels, above an average estimate for 152.1 million.
Argentine grains firms ask government to resolve strike. Cash traders said CIF soyabean basis is climbing on stronger demand from exporters. Some elevators are being instructed to load soyabeans ahead of corn if possible, the traders said. Argentine soya crop seen stable on recurring rains. Brazil soya crop seen record 70.3 million tonnes - Agroconsult. CBOT March soyameal up $3 per ton at $377.40. Following soyabeans. US Census reports soyameal stocks at the end of December were 510,743 tons, above an average estimate of 430,800. CBOT March soyaoil up 0.71 cent at 57.41 cents per lb.
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