US MIDDAY: soyabeans higher

18 Jun, 2008

July soyabean futures were up 16 cents at $15.50 per bushel, new-crop November was up 20-3/4 cents at $15.43-3/4. Rallied after choppy open, rebounding from Monday's sell-off on concerns about US Midwest flooding. Soyabeans also gain against corn, catching up after corn set record highs in previous eight sessions.
Support also from ongoing farm protests in Argentina that may shift more soya export business to the United States. July soyameal was up $6.10 at $411.90 per ton. July soyaoil was down 0.07 at 65.58 cents per lb.

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