CBOT soyabean futures rise

CHICAGO: Chicago Board of Trade soyabean futures rose 2% on Wednesday, surging to two-year highs on continued export demand from top global soya buyer China and fund-driven buying, analysts said. CBOT November soyabeans settled up 19-3/4 cents at $10.11-1/4 per bushel after reaching $10.13-3/4, a contract top and the highest price for a most-active contract on a continuous chart since June 2018.

Contract highs set nearly across the board in soyabean futures. CBOT December soyameal ended up $6.50 at $325.70 per short ton and December soyaoil rose 0.76 cent to settle at 34.91 cents per pound.