Por Julie Ingwersen
CHICAGO, U.S., Dec 13 (Reuters) – U.S. soybean futures rose about 1% on Tuesday, whereas soybean meal futures soared on expectations of elevated demand for the soybean feed. excessive protein content material, in response to analysts.
* Chicago Inventory Trade soybean meal futures rose sharply towards soybean oil futures, which fell to six-month lows on expectations of upper shares in america and cooling world markets of vegetable oils.
* Chicago corn futures adopted the rise of soybeans, whereas wheat was unstable in operations inside a restricted vary.
* At 1858 GMT, soybeans for January had been up 13.5 cents, or 1.1%, at $ 12.575 a bushel, whereas soybean meal for a similar month was up $ 14.70, or 4.1 %, at $ 376.80 per brief ton.
* Soybean oil in Chicago fell 1.13 cents, or 2.1%, to 52.22 cents per pound, after falling to 52.01 cents, its lowest degree since June 18.
* The resurgence of soybean meal displays robust demand attributable to robust US spot markets and low provide of lysine, a less expensive various, along with demand for pig feed in China.
* “There’s so much occurring there, and a variety of feeling that with the alternative of the Chinese language pig herd it’s going to want some flour,” mentioned Jack Scoville, an analyst at Worth Futures Group in Chicago.
* In the meantime, soybean oil futures fell in step with weak point in Malaysian palm oil and Euronext’s rapeseed futures.
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