CHICAGO: Chicago Board of Trade soyabean futures closed higher on Friday on shrinking estimates for South America’s harvests due to dry weather, analysts said. The session was volatile, with futures trading in positive and negative territory before finishing firmer.
CBOT March soyabeans settled 8-3/4 cents higher at $15.83 per bushel, up 2% for the week. The most-active soya contract on Thursday climbed $16.33, the highest in a continuous chart since May 13, 2021. CBOT March soyameal ended up $2.60 at $456.6 per short ton, after climbing on Thursday to a contract high at $477.90.
CBOT March soyaoil settled up 1.21 cents at 65.72 cents per pound.
Exporters reported the sale of 108,000 tonnes of US soyabeans for delivery to China and 30,000 tonnes of US soyaoil to unknown destinations, the US Department of Agriculture said.
Chicago Board of Trade wheat futures rallied on Friday on increased fears that Russia may invade and disrupt grain exports from the region, traders said.
CBOT March soft red winter wheat settled 26-1/4 cents higher at $7.97-3/4 per bushel, up 4.5% on the week. The contract reached its highest price since Jan. 26.
Chicago Board of Trade corn futures ended higher on Friday on increasing worries that a conflict between Russia and Ukraine could disrupt grain shipments from the Black Sea region, traders said. CBOT March corn settled up 9-1/2 cents at $6.51 per bushel, up 5% on the week. It reached a contract high on $6.62-3/4 on Thursday.
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