CBOT soybeans end higher as crude oil lifts soyoil futures
CHICAGO, April 6 (Reuters) - Chicago Board of Trade soybean futures closed modestly higher on Monday as rising crude oil CLc1 prices lifted soyoil, traders said.
CBOT May soybeans SK26 settled up 3-1/4 cents, or 0.3%, at $11.66-3/4 per bushel.
CBOT May soyoil BOK26 rose 1.01 cent, or 1.5%, to finish at 69.95 cents per pound, and May soymeal SMK26 ended up $1.40, or 0.4%, at $316.60 per short ton.
Grain traders continued to assess prospects for a Middle East resolution, with Iran calling for an end to the war while President Donald Trump reiterated threats of broad attacks unless Tehran makes a deal by Tuesday night. Soybean futures sometimes track trends in crude oil markets given soyoil's role as the primary U.S. feedstock for biodiesel fuel.
Traders also are anticipating an upcoming meeting in mid-May between Trump and Chinese President Xi Jinping during Trump's first visit to top global soy buyer China in eight years.
The U.S. Department of Agriculture reported export inspections of U.S. soybeans in the latest week at 779,352 metric tons, above the highest in a range of trade expectations for 400,000 to 750,000 tons. USDA/I
In Brazil, farmers had harvested 82% of their soybean crop by last Thursday, agribusiness consultancy AgRural said on Monday, up 7 percentage points from the previous week but below the 87% reported a year earlier.
