Chicago Board of Trade soyabean futures ended slightly higher on Friday on short covering ahead of the three-day Labor Day weekend, traders said. Front-month CBOT September soyabeans closed up 3/4 cent at $8.57 per bushel. November soyabeans settled 1/2 cent higher at $8.69 per bushel. The most actively traded contract reached $8.77-3/4, its highest price since Aug. 22, before the market pared gains.
CBOT September soyabean deliveries totaled 866 contracts, above trade expectations.
CBOT September soyaoil deliveries totaled 58 contracts, fewer than expected. September soyameal deliveries totaled 611 contracts, more than expected.
CBOT December soyameal ended down $2.70 at $295.30 per short ton, and December soyaoil rose 0.23 cent to 28.81 cents per pound.
Traders were evening up positions at the end of the month. They worry an eventual frost could hurt the developing US soyabean crop after historic rains and flooding delayed plantings this spring. The crop is considered more vulnerable because it was planted late.
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