Saturday, December 5, 2015

Soybeans Rise to Six-Week High as Dry Weather Cuts Brazil Crop

2015-12-04 17:18:33.949 GMT

By Jeff Wilson
     (Bloomberg) -- Futures for Jan. delivery rise 0.3% to $8.97
3/4 a bushel on CBOT after earlier touching $9.02, highest for
most-active contract since Oct. 23.

  * Price heads for 3rd straight weekly advance, longest since
    July 3
  * Brazil 2015-16 soybean output forecast cut to 100.4m mt,
    crop forecaster Safras & Mercado says in report Friday
  * Brazil soybean planting 78.7% complete as of Nov. 27: Safras
  * Brazil Soybean Output Seen Smaller Than Previous Est.:
  * "People are getting concerned that the dry weather in
    Brazil delayed plantings and could lead to additional yield
    cuts," Jerry Gidel, the chief feed-grain market analyst at
    Chicago-based Rice Dairy LLC, says in telephone interview
  * NOTE: U.S. Exporters Sell 178KT of Soybeans to China
  * Soybean-oil futures for Jan. delivery +1.3% to 31.26c/lb
    after Thursday reaching 31.25c, highest since July 24
  * Soybean-meal futures for Jan. delivery -0.4% to $286.20 for
    2,000 lbs