Chicago Board of Trade soyabean futures whipsawed higher mid-morning Friday, traders said, following wheat and corn up after CBOT commodities were pressured early on spillover weakness from equity markets.
After early pressure spilled over from the meltdown in the US subprime mortgage sector, Chicago grains turned up as traders refocused their attention on tight world supplies, and soyabeans followed higher. November soyabeans climbed 3-3/4 cents per bushel to $8.81-1/2 per bushel after hitting a low of $8.59. By 10:47 am CDT, November soya turned again and were down 1-3/4 cent at $8.76.
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