CBOT soyabean futures rise

CHICAGO: Chicago Board of Trade soyabean futures rose on Monday, supported by tight supplies in top global producer Brazil, traders said.

Brazilian oilseed crushers' association Abiove raised its forecast for the country's 2021 soyabean imports to 800,000 tonnes from 500,000 tonnes.

The benchmark CBOT January soyabean futures contract found technical support at its 10-day moving average. Consolidation trade was noted around its 20-day moving average.

Soyameal futures weakened slightly on a technical setback after the January contract hit resistance at its 40-day moving average. Soyaoil futures firmed but the January contract hit resistance at the high end of its 20-day Bollinger range, a level it has not topped since November 18.