CHICAGO(Commodity Online): Soy product futures end higher, with soyoil finishing at three-week highs.
Soyoil advances were fueled by a NOPA soybean crush report revealing smaller-than-expected soyoil inventories in September, analysts say.
Tight supply outlook buoyed prices, with traders also encouraged by strong apparent demand for soyoil used in biodiesel production and spillover support from sharply higher Crude Oil futures, analyst add.
CBOT Dec soyoil end up 1.10c or 2.1% at 53.54c/lb; Dec Soymeal finished up 90c or 0.3% at $327.60/short ton.
