CBOT soybeans rise 1.0%, exports underpin market
Successful Farming (20/10/2020) - CHICAGO, Oct 20 (Reuters) - Chicago Board of Trade soybean futures rose 1% on Tuesday, closing near session highs, on strong export demand, traders said. * Strength in the cash market added support to soybeans. * Soybeans, which have risen for five of the last six sessions, remained below the 2-1/2 year peaks hit earlier this month after some much-needed rain in parts of Brazil. * Soymeal futures ended close to unchanged after the December, January, March, May, July and August contracts hit new highs during the session. * Soyoil futures were firm, supported by strength in the crude oil market as well as Malaysian palm oil. * The most-active December soyoil contract broke through resistance at its 30-day moving average late in the trading day and ended its session high. * The U.S. Agriculture Department said early Tuesday that private exporters reported the sale of 132,000 tonnes of soybeans to unknown destinations. Last Net Pct Low High Volume chng chng SOYBEANS NOV0 1065.00 10.75 1.0 1051.25 1065.75 104797 SOYBEANS JAN1 1065.00 11.00 1.0 1051.25 1065.50 71003 SOY MEAL DEC0 372.70 -0.50 -0.1 368.50 378.00 52064 SOY MEAL JAN1 367.30 0.10 0.0 363.80 371.10 20103 SOYBEAN OIL DEC0 33.43 0.90 2.8 32.31 33.43 56922 SOYBEAN OIL JAN1 33.43 0.90 2.8 32.32 33.43 17349 (Reporting by Mark Weinraub; Editing by Richard Chang) Read more at https://www.agriculture.com/markets/newswire/cbot-soybeans-rise-10-exports-underpin-market