Chicago Board of Trade soyabean futures rose on Monday, with prices hitting 14-month highs during the session, as investors kept buying after Friday's US government report cut its estimate for this year's harvest. A rally in corn futures also lent strength to soyabeans and soyameal, which was following soyabeans throughout the trading day.
Soyaoil closed lower, weighed down by weakness in crude and talk of China resuming exports of supplies from Argentina. CBOT soyabeans for November delivery settled up 17-1/2 cents at $11.52-1/2 a bushel. The January soyabean contract was up 18 cents at $11.63.
Soyabean volume estimated at record 316,996 contracts, topping previous record of 294,100. The October soyameal contract, which is in the delivery stage, ended up $6.10 at $323.10 per ton. December soyameal rose $10.90 to $327.10. CBOT October soyaoil down 0.24 cent at 45,98 cents a lb. December soyaoil down 0.27 at 46.35. Good harvest weather reported around US Midwest this weekend. Heavy rain that would push farmers from fields not expected until next week.