Chicago Board of Trade soyabean futures closed higher on Thursday on bargain buying after the benchmark July contract fell to its lowest since mid-September, traders said. CBOT July soyabeans settled up 4 cents at $8.72-3/4 per bushel, halting a three-session skid.
CBOT soyameal futures posted the biggest percentage gains in the soya complex, lifting soyabeans.
Front-month CBOT soyameal settled up $5.60 at $306 per short ton, rallying after dipping below $300 for the first time since March.
CBOT July soyameal ended up $5.60 at $309.60 per short ton, while July soyaoil fell 0.28 cent to close at 27.94 cents per pound. The US Department of Agriculture reported export sales of US soyabeans in the week to April 18 at 619,000 tonnes (old and new crop years combined), in line with trade expectations for 300,000 to 750,000 tonnes.
China's imports of US soyabeans rose in March from the previous month as more cargoes booked during a truce in the trade dispute between the two countries arrived.
Brazil's foreign minister said the country must work with China, the world's top soya buyer, to reduce non-tariff barriers to agriculture trade, including improving the process for genetically modified goods. Brazil is the world's biggest soyabean exporter.
Comments
Comments are closed.