CBOT soyabean futures at four-month high

CHICAGO: Chicago Board of Trade (CBOT) soyabean futures touched a four-month high on Monday on worries about hot, dry weather hitting US crop-growing areas over the next two weeks, traders said.

CBOT November soyabeans settled up 9-1/2 cents at $9.06-1/4 a bushel.

The most-active contract touched its highest price since March 5. CBOT August soyameal ended up $1.60 at $297.80 per short ton, while August soyaoil rose 0.45 cent to finish at 28.54 cents per pound.

The US Department of Agriculture is set to issue an update on crop condition ratings later on Monday. Analysts on average expect the good-to-excellent rating for soyabeans to decline slightly from a week earlier, according to a Reuters poll.