CHICAGO: Chicago Board of Trade soyabean futures closed higher on Tuesday, lifted by bullish US crushing data, worries about harvest delays in Brazil and spillover strength from wheat and corn, traders said.
CBOT March soyabeans settled up 12-3/4 cents at $13.84-3/4 per bushel.
CBOT March soyaoil futures surged 1.23 cents to settle at 47.27 cents per pound while March soyameal futures ended up $1.20 at $428.40 per short ton.
Contract highs were set across the board in soyaoil futures. The National Oilseed Processors Association said its US members crushed 184.654 million bushels of soyabeans in January, the second-largest total for any month. The figure was above an average of analyst estimates for 183.1 million bushels.
NOPA’s January crush marked the latest in a series of record or near-record months of soya processing in the United States as crushers seized upon good margins and ample supplies of soyabeans.—Reuters
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