US soyabean futures on the Chicago Board of Trade climbed for a second day on Wednesday, buoyed by strength in wheat and corn along with concerns about heat in the Mississippi River Delta soya region, traders said. Soyameal closed higher but soyaoil fell, pressured by a retreat in crude oil and by meal/oil spreading. Firmer US dollar hung over the market. CBOT August soyabeans ended up 3-1/2 cents at $10.15-1/4 per bushel; new-crop November up 5-1/2 at $9.78-1/2.
August soyameal up $1.80 at $303.30 per ton. August soyaoil down 0.14 cent at 38.26 cents per lb. Funds were net buyers of 3,000 soyabean contracts and 1,000 soyaoil; funds sold 1,000 soyameal - trade. Some traders hesitant to be short soyabeans as the key August pod-setting month approaches. US Midwest to stay warm and moist next 10 days but hot, dry conditions to persist in Mississippi River Delta soya region. Argentina's Agriculture Ministry cut its estimate for 2009/10 soyabean output to 52.7 million tonnes, from 54 million a month ago. Trade awaiting monthly US Census crush data on Thursday; analyst estimates ranged from 131 million to 132.4 million bushels.
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