CHICAGO: Chicago Board of Trade soyabean futures rose 1.3% to their highest since Nov. 30 on Tuesday, supported by signs of strong demand from the crush industry.
Soyabeans, which closed at their session highs, have risen for three days in a row and four of the past five sessions.
US soya processors crushed 181.018 million bushels of soyabeans in November, their third largest monthly crush on record, according to data released by the National Oilseed Processors Association. The report also showed the highest monthly soyameal export total in nearly eight years.
The benchmark CBOT January soyabean futures contract found support from early weakness at its 10-day moving average. The contract then rallied about its 20-day moving average during the session.
January soyameal futures broke through their 20-day, 30-day and 40-day moving averages.
For January soyaoil, support was noted at the 20-day moving average. The contract settled above its 20-day Bollinger range for the first time since November 12.—Reuters
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