CBOT soyabean futures gain

CHICAGO: Chicago Board of Trade soyabean futures inched higher on Friday, finding technical support, despite pressure from strong harvest progress expected through the weekend, analysts said.

CBOT November soyabeans gained 3/4 cent to $12.85 a bushel.

December soyameal futures fell $1.10 to $339.00 a ton, while December soyaoil added 0.85 cents to 57.87 cents per lb. For the week, the most-active soyabean contract added 1 cent.

Soyameal prices in China, the world’s top consumer of the animal feed, are rising after at least 20 soyabean crushing plants shuttered to comply with curbs on industrial power consumption, industry participants said.