CHICAGO: Chicago Board of Trade soyabean futures climbed on Thursday, bolstered by tightening global stocks as South American competitors face weather challenges and a port-closing labour strike, traders said. The benchmark CBOT March soyabean futures contract gained 4-1/2 cents at $12.64-1/2 per bushel, after reaching $12.75 per bushel, the highest on a continuous basis for the most-active contract since June 23, 2014.
New life-of-contract highs were met in all contract months through August 2021. Argentine oilseed workers and grains inspectors said they will spend Christmas on strike, further hampering agricultural exports in a two-week-old labour dispute. Argentina's 2020/21 soyabean planting area could turn be smaller than expected due to prolonged dry weather, the Buenos Aires Grains Exchange said.
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