Chicago Board of Trade soyabean futures ended higher on Tuesday, led by strength in soyameal tied to worries about supplies from drought-hit Argentina, the world's top soyameal supplier, traders said. CBOT July soyabeans settled up 4-3/4 cents at $10.53-1/4 a bushel. Soyameal futures set across-the-board contract highs.
CBOT July soyameal ended up $10.60 at $404.40 per short ton after posting a contract high at $406.10. CBOT July soyaoil fell 0.29 cent at 30.33 cents per pound, losing ground to soyameal on meal-oil spreads. The USDA late Monday said the US soyabean crop was 5 percent planted, matching the five-year average. Deliveries against CBOT May soyabeans totalled 145 contracts. The CBOT reported 52 May soyameal deliveries and 265 May soyaoil deliveries.
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