Soyabean futures on the Chicago Board of Trade climbed nearly 2 percent on Tuesday, hitting the highest spot price in more than 28 months on worries a port strike in Argentina might linger, traders said. CBOT March soyabean s ended up 25 cents at $14.38 per bushel after reaching $14.40-1/2, highest spot price on continuous charts since September 2008.
New-crop November soyabean up 27 cents at $13.68. Contract highs hit in March soybeans and several deferred contracts. Soyabean futures volume was estimated near 214,000 contracts, up about 24 percent from the 30-day average. March soymeal ended up $9.70 at $390.00 per ton. March soyoil up 0.84 cent at 58.72 cents per lb. Commodity funds were net buyers of 6,000 soyabean contracts, 1,000 soymeal and 2,000 soyoil, traders estimated. USDA confirmed sales of 110,000 tonnes US soybeans to unknown destinations for 2010/11 delivery.
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