Soyabean futures at the Chicago Board of Trade were firm at midday on Thursday amid worries about heat and dryness moving into the US Midwest by the weekend, traders said. At 11:37 am CDT (1637 GMT), CBOT soya was up 2 to 4 cents per bushel, with July up 2-3/4 at $8.53-1/4 per bushel.
New-crop November was up 2-3/4 at $8.85 per bushel. The market also remains supported by the low number of US soyabean acres planted this spring and soya climbed despite another round of heavy deliveries overnight, underscoring the weakness in the cash markets. There were 2,975 July soyabean deliveries overnight which were met by scattered stopping. In soyaoil, there were 871 July soyaoil deliveries amid scattered stopping. July soyameal deliveries were light at 13 lots and were met by commercial stopping as a J.P. Morgan customer took them all.
Midwest basis bids for soyabeans were soft early Thursday and country sales were quiet after the holiday, cash dealers said. Soyameal was up $3.20 to down 60 cents per ton, with July up 60 at $233.20 per ton. Soyaoil was up 0.02 to 0.25 cent per lb, with July up 0.17 at 36.53 cents per lb.