Chicago Board of Trade May soyabeans ended up 3.75 percent on the day, lifted by technically based buying and leadership from corn, traders said. In addition, funds bought and estimated 10,000 soyabean contracts, as well as 4,000 soyameal and 6,000 soyaoil futures.
Grain prices staged a day-long recovery on signs of improved stability in Japan following a devastating earthquake, tsunami and nuclear crisis. USDA's weekly export sales report on Thursday showed US export sales of soyabeans last week at 214,500 tonnes, below estimates for 350,000 to 450,000 tonnes. CBOT soyabean futures for May rose 48-1/4 cents to $13.35-1/4 a bushel in volume of 98,262 lots, trading in a range of $12.85-1/4 to $13.46-3/4. July rose 48-1/4 cents to $13.43-1/2 a bushel. Total volume of 186,309 was 15 percent below the 30-day average.
CBOT soyabean meal futures for May rose $14.10 to $358.60 a ton in volume of 30,950 lots, trading in a range of $344.10 to $361.30. July rose $14 to $361.80 a ton. Total volume of 53,364 was 28 percent below the 30-day average. CBOT soyabean oil futures for May rose 1.56 cents to 54.52 cents a lb in volume of 53,237 lots, trading in a range of 53.00 to 55.22. July rose 1.54 cents to 55.07 cents a lb. Total volume of 92,726 was 22 percent below the 30-day average.
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