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CBOT soy hits 1-week high on S. American crop woes

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By Abdul Ahad
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CHICAGO: Soybean futures on the Chicago Board of Trade rose to a one-week high Friday, with front months gaining against deferreds on speculation that shrinking crops in South America could steer more export demand to the United States, traders said.

As of 12:18 p.m. CDT (1718 GMT), CBOT May soybeans were up 22-1/4 cents at $14.38 per bushel after reaching $14.39-1/4 which marked the highest spot price since April 13.

Copyright Reuters, 2012

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