US soyabean futures closed higher on Monday on a technical bounce after the limit-down close on Friday due to talk China would raise interest rates over the weekend. A big soya crush number in NOPA monthly report also supportive. CBOT January up 17-1/2 cents per bushel at $12.86-1/2. Funds bought an estimated net 7,000 soyabean contracts.
USDA said 55.532 million bushels of US soya were inspected for export last week, just below estimates for 56 million to 60 million. NOPA pegs US October soyabean crush at 151.9 million bushels, above an average of analysts' estimates for 147.5 million.
Exporters sell 105,000 tonnes US soyabeans to unknown destination. CBOT December soyameal up $8.40 per ton at $348.10. Following soyabeans in a technical bounce from the steep price drop on Friday. Funds bought an estimated 3,000 contracts. NOPA pegs US October soyameal exports at 641,187 tons, versus September's 361,890 tons. CBOT December soyaoil down 0.06 cent per lb at 52.47.