CHICAGO: Chicago Board of Trade soyabean futures set a four-year high on Monday on strong demand for the oilseed and hopes that promising developments toward a coronavirus vaccine will boost the global economy.
CBOT January soyabeans settled 9 cents higher at $11.10-1/2 per bushel. The most-active contract reached its highest price since July 2016.
Soyameal and soyaoil futures also advanced.
Broad optimism about Pfizer Inc's vaccine trials lifted equity and commodity markets.
The US Department of Agriculture, in a daily reporting system for export sales, said exporters sold 123,000 tonnes of US soyabeans to unknown destinations.
The USDA, in a monthly report due on Tuesday, is expected to cut its estimate for US soyabean ending stocks to 235 million bushels from 290 million in October, according to a Reuters survey of analysts.
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