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Markets Print edition: 2020-08-12

CBOT soyabean futures rise

Published Updated
By

CHICAGO: Chicago Board of Trade soyabean futures climbed on Monday on increased export sales, mostly to China.

The most-active soyabean futures contract added 5-3/4 cents to $8.73-1/4 per bushel.

Soyameal futures added $2.40 to $284.40 per short ton, while soyaoil, remained unchanged at $30.75 per pound.

Exporters reported sales of 699,000 tonnes of soyabeans Monday, with 588,000 bound for China, according to the US Department of Agriculture.

The USDA is expected to rate 72% of the country's soyabean crop in good-to-excellent condition in its weekly crop progress report, according to analysts surveyed by Reuters.

Chinese importers plan to increase purchases of soyabeans from the United States in the fourth quarter to meet healthy livestock demand, making the most of the start of the US harvest season after existing Brazilian supply mostly dried up.

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