CBOT soyabean futures hit two-year high

03 Sep, 2020

CHICAGO: Chicago Board of Trade soyabean futures consolidated on Tuesday, a day after touching a two-year high on concerns about unfavorably dry US crop weather.

November soyabeans closed 1-1/4 cents higher at $9.54-3/4 a bushel. The most-active contract on Monday touched its highest price since June 2018 at $9.66-3/4.

December soyameal futures fell $1.70 to $310.80 per short ton, a day after setting their highest prices since March. December soyaoil edged up 0.02 cent to 32.88 cents per pound, a day after setting its highest price since January at 34.04 cents.

Traders are assessing global supplies and particularly the size of the upcoming US crop amid concerns about Midwest dryness.-

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