CHICAGO: Chicago Board of Trade (CBOT) soybean futures advanced on Thursday as unfavorable crop weather slowed plantings and raised worries about the risk for reduced yields, traders said.
CBOT July soybeans settled up 12-1/4 cents at $9.15-1/2 per bushel.
CBOT July soymeal jumped $6.10 to $323.00 per short ton, while July soyoil rose 0.22 cent to 28.59 cents per pound.
Rain in the US Farm Belt over the next five days is expected to cause further delays to soybean plantings that have already been hampered by wet weather, analysts said.
"Temperatures will remain a bit cooler than normal across the corn belt over the next few days, which will continue to slow germination and early growth of corn and soybeans," weather firm Maxar said.
Weekly US soybean export sales came in at 771,600 tonnes, according to the US Department of Agriculture.
That was near the high end of expectations for 200,000 tonnes to 800,000
tonnes.
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