Chicago Board of Trade soyabean futures closed higher on Thursday after the US Department of Agriculture projected 2018-19 soyabean ending stocks at 415 million bushels, below most trade expectations.
CBOT July soyabeans settled up 5-1/2 cents at $10.21-1/4 per bushel. CBOT July soyameal ended up 30 cents at $386.10 per short ton while CBOT July soyaoil rose 0.10 cent at 31.13 cents per pound. The USDA, in its first official supply/demand forecasts for the new crop year, projected 2018-19 world soyabean ending stocks at 86.70 million tonnes, below an average of trade estimates for 90.52 million.
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