CBOT soyabean futures up

CHICAGO: Chicago Board of Trade soyabean futures gained on Wednesday as continued dryness in South America improved export prospects for the US crop, traders said. CBOT January soyabeans settled 22 cents higher at $10.86-1/4 per bushel, after reaching a high of $10.88 per bushel, the highest since October 26.

CBOT December soyameal gained $8.50 to $385.70 per short ton and December soyaoil added 0.61 cent to finish at 33.39 cents per pound. The US Department of Agriculture estimates 800,000-1.7 million tonnes of soyabeans were sold for export for the week ended October 29. Bunge was given regulatory approval by Brazilian antitrust regulators for a proposed acquisition of two soya crushing plants in Brazil.