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Commodity Online
MUMBAI: CBOT soybean futures led the agricultural complex higher Monday. “Funds were short and they’re working quickly to cover most of those,” said Dan Cekander, director of research at Newedge.
Soybeans found additional support in later gains by crude oil as the Dow Jones Industrial Average rose over 100 points and the U.S. dollar index slipped, CBOT floor traders said. May soybean contracts finished up 34 ½ cents a bushel to close at $9.11.
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The contract traded a 36- cent range, topping at $9.18. July soybeans added 32 1/4 cents to close at $9.07 1/2.
It spread a 33-cent range, topping at $9.14. November soybeans gained 26 3/4 cents to $8.50 1/2. Midday estimates pegged speculative fund buying at 5,000 CBOT soybean contracts.
Courtesy: CBE Group
