Chicago Board of Trade (CBOT) soyabean futures climbed to a 1-1/2 week high on Friday on concerns about dry US Midwest weather and as traders squared positions ahead of a US government report due for release on Monday, traders said. CBOT September soyabeans ended 8-3/4 cents higher at $8.79 a bushel. New-crop November soyabeans, the most actively traded contract, also jumped 8-3/4 cents, to $8.91-3/4 a bushel.
November soyabeans were up 2.7% for the week, the first weekly gain in a month. CBOT September soyameal rose $1.70 to $298.50 per short ton. September soyaoil rose 0.57 cent to 29.58 cents per pound. Traders are squaring positions ahead of next week's US Department of Agriculture supply-and-demand report, which is expected to show a smaller crop and fewer planted acres.
Comments
Comments are closed.