CHICAGO: Chicago Board of Trade soyabean futures rose on Monday on support from harvest delays in South America. Soyameal futures dropped, with the May contract falling through a key technical support point at its 50-day moving average, while soyaoil rose, supported by a rally in the crude oil market. Consultancy AgRural said farmers in Brazil had harvested just 15% of their soyabean crop as of Feb. 18. The harvest pace was the slowest in the past 10 years.
The benchmark CBOT May soyabean futures contract found support from early weakness at its 30-day moving average. The US Agriculture Department said that weekly soyabean export inspections totaled 721,845 tonnes, down from 922,181 tonnes the previous week but in line with trade forecasts that ranged from 300,000 to 950,000 tonnes.
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