Chicago Board of Trade soyabean futures closed modestly higher on Monday, with the bellwether November contract nearing a four-month top on fears that wintry weather over the weekend threatened Midwest production at a time of tightening US soya supplies. CBOT November soyabeans settled up 4-1/2 cents at $9.40-1/2 per bushel after reaching $9.45-1/2, its highest since June 18.
CBOT December soyameal ended up 10 cents at $310.90 per short ton and December soyaoil finished up 0.03 cent at 30 cents per pound. Traders took a cautious view on last week's progress in trade talks between the United States and top global soya buyer China. Analysts noted the absence of a written trade agreement, along with previous setbacks in negotiations to settle the 15-month trade dispute between the world's biggest economies.
China's soyabean imports in September fell 13.5% from the previous month, customs data showed, as an epidemic of African swine fever that has slashed China's pig herd reduced demand for soyameal. The US Department of Agriculture's weekly export inspections and crop progress reports were delayed until Tuesday due to Monday's Columbus Day federal holiday.
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