Chicago Board of Trade soyabean futures rose on Thursday, turning higher in the final 15 minutes of the trading session on a mix of technical buying and optimism about the outcome of US trade talks with top global soya buyer China, traders said. CBOT July soyabeans settled up 10-1/4 cents at $10.53-1/4 per bushel, rebounding from a session low of $10.34.
CBOT July soyaoil rose 0.21 cent at 30.81 cents per pound, buoyed by stronger-than-expected weekly US export sales and news that private exporters in the last day sold 30,000 tonnes of US soyaoil to Peru. CBOT July soyameal ended down $2.10 at $398.60 per short ton pressured by long liquidation and profit-taking after the contract surged above the $400 mark this week.
The USDA reported export sales of US soyabeans in the week to April 26 at 886,200 tonnes (old and new crop years combined), in line with trade expectations. Deliveries against CBOT May soyabeans totalled 68 contracts. The CBOT reported four May soyameal deliveries and 280 May soyaoil deliveries.