CHICAGO: Chicago Board of Trade soyabean futures settled up about 2% on Tuesday on worries about tightening US and global soya supplies and spillover strength from a 4% jump in corn futures, traders said.
CBOT March soyabeans settled up 26-3/4 cents at $13.70-1/4 per bushel.
CBOT March soyameal ended up $6.90 at $436.50 per short ton and March soyaoil rose 0.97 cent to settle at 43.91 cents per pound.
Harvest delays in Brazil are slowing the seasonal shift in soyabean export business to South American suppliers, a factor that threatens to further draw down tight US soya stocks.
Agribusiness research firm AgRural estimated Brazilian soya farmers had harvested 0.7% of the planted area through Jan. 21, a 0.3 percentage point rise from the previous week, limited by heavy rainfall. Rains in Argentina have improved prospects for recently planted soya and corn, but worries about potential crop yields persisted ahead of February, usually one of the driest months of the year, analysts said.
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