US soyabean prices have risen by almost a third since the start of March amid strong demand from China and production problems in both Argentina and Brazil.
Soyabean prices rose strongly yesterday amid fresh concerns about supply tightness after Informa Economics, the consultancy, forecast that US stocks at the end of the current season would shrink to 77m bushels, well below the US Department of Agriculture's inventory forecast of 130m bushels, which was released this month.
CBOT July soyabeans rose 15 cents to $11.61½ a bushel, easing back from $11.67½, a fresh eight-month high.
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