US soyabean futures on the Chicago Board of Trade ended firm on Tuesday, rallying from early declines as tight cash markets prompted traders to buy old-crop contracts against back months on spreads, traders said. Strength in crude oil and an upturn in US equity markets added support.
Soyaoil posted the biggest gains in the soya complex on a percentage basis, rising more than 1 percent. Soyaoil gained against soyameal as traders unwound meal/oil spreads. CBOT August soyabeans ended up 3-3/4 cents at $10.11-3/4 per bushel; new-crop November up 1 at $9.73.
August soyameal down $3.50 at $301.50 per ton. August soyaoil up 0.44 cent at 38.40 cents per lb. Exporters sell 115,000 tonnes US soyabeans to China for 2010/11 delivery - USDA. Argentina said June soyaoil sales rose from year ago, despite China row.
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