01.06.2021 (www.agriculture.com) - CHICAGO, June 1 (Reuters) - Chicago Board of Trade soybean futures rose 1.2% on Tuesday, supported by concerns that hot and dry weather in parts of the U.S. Midwest will stress the crop during early development stages. * Strength in the crude oil market added support as demand for biofuel was seen rising during summer driving season. * Soymeal futures also closed in positive territory, snapping a three-session losing streak. * Soyoil futures jumped 2.4%. * The benchmark CBOT July soybean futures contract rose above its 30-day moving average. It also topped its 20-day moving average for the first time since May 19 but failed to hold support above that key technical point. * A U.S. Agriculture Department report on Monday afternoon was expected to show that soybean planting was 87% complete as of May 30, up from 75% a week earlier, according to the average estimate in a survey of 12 analysts. * CBOT July soybeans settled up 18 cents at $15.48-1/2 a bushel. July soymeal futures were $3.20 higher at $398.70 a ton and July soyoil was up 1.6 cents at 67.39 cents per lb. (Reporting by Mark Weinraub; Editing by Lisa Shumaker)

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