US soyabean futures on the Chicago Board of Trade rallied on Thursday lifted by worries about tight supplies and steady export demand for soya and its products, traders said. July soyabeans ended 31-1/2 cents up, or 2 percent higher at $16.09-1/2.
New-crop November closed 30 higher at $15.87, gaining on corn - a trend that began more than a week ago following USDA's June 30 acreage and quarterly stock reports that implied little relief to the tight supply outlook for soya.
July soyameal closed $10.30 per ton higher at $445.80. July soyaoil ended up 0.67 cent at 64.45, lifted to the day's highs when crude oil rallied about $5 a barrel near the CBOT close.
Commodity funds bought 3,000 soyabean contracts, 2,000 soyameal and 2,000 soyaoil, traders said. USDA said 288,900 tonnes of soyabeans (66,400 tonnes old-crop) sold for export last week, below estimates for 300,000 to 500,000 tonnes.
The government reported 62,900 tonnes of soyameal (62,600 tonnes old-crop) sold for export last week, within estimates for 50,000 to 150,000 tonnes. US soyaoil export sales were 44,100 tonnes of soyaoil (15,600 tonnes old-crop) last week, USDA reported. That compares to estimates for 5,000 to 15,000 tonnes.
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