Soyabeans was up 6 to 15 cents per bushel, May up 13 at $12.64-1/2 per bushel. Market lifted by threat of renewed farmer strike in Argentina and gains in corn. Neutral reaction to updated USDA supply/demand data. Penson GHCO bought 200 May and Fortis bought 200 May.
USDA estimated 2007/08 US ending soya stocks at 160 million bushels, above an average of analysts' estimates for 156 million. Argentine farmers threaten to revive strike. Wet weather continues in US eastern Midwest and Delta. No major weather concerns in South America. May soyameal was up $3.90 at $333.70 per, up $2.30 to $4.00 per ton.
Following gains in soya and technical rebound from the weak close on Tuesday. Tenco bought 200 July. Soyaoil was up 0.30 to 0.54 cent per lb, with May up 0.51 at 56.35 cents per lb. Following soyabeans and rally to record highs in crude oil.
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