CHICAGO: Chicago Board of Trade soyabean futures rose 1.5% on Thursday to a fresh 4-1/2-year high, supported by signs of strong exports and concerns about crops in South America, traders said. The most-active contract topped $12 a bushel for the first time since June 10, 2016.
New contract highs were hit across the board. The benchmark CBOT January soyabean futures contract hit technical resistance at the high end of its 20-day Bollinger range. Soyameal and soyaoil futures also rallied, with soyaoil hitting its highest on a continuous basis since June 30, 2014.
Comments
Comments are closed.