RTRS: CBOT early call-Soy up 5-7 cents on exports, dollar
April 20 (Reuters) - Soybean futures on the Chicago Board of
Trade were called 5 to 7 cents per bushel higher on Friday on
strong export demand for U.S. soybeans, along with dollar
weakness and early strength in crude oil futures, traders said.
* Soymeal was called $2 per ton higher and soyoil up 0.20
cent per lb.
* The trend for soybeans in Globex trade overnight was up
5-3/4 to 7-1/4 cents per bushel, with spot May last up 6
cents at $14.21-3/4 per bushel. Soymeal was up $2.30 to $2.40 a
ton and soyoil was up 0.23 cent per lb.
* Concerns about declining soy harvest prospects in South
America continued to underpin the market.
* Open interest in CBOT soybean futures rose to a record
817,866 contracts after Thursday's session, preliminary CBOT
data showed. Funds hold a record-large net long position,
leaving the market vulnerable to bouts of long liquidation, a
factor that may limit rallies.
* Soybean export premiums at the U.S. Gulf were unchanged to
higher on Thursday. CIF soybean barges for May loading traded 1
to 2 cents per bushel higher Thursday as exporters filled
immediate needs and sought additional supplies in anticipation
of old-crop export demand.
* CBOT May options expire at the close on Friday. Traders
were eyeing open interest at the $14 and $14.20 strikes.
8:09 AM CDT LAST NET PCT LOW HIGH CURRENT
CHNG CHNG VOL
Soy MAY 1421.75 6.00 0.4 1413.00 1423.00 5,256
Soy JUL 1426.75 5.75 0.4 1418.00 1427.75 9,006
Meal MAY 394.20 2.30 0.6 391.70 394.30 2,460
Meal JUL 397.80 2.40 0.6 395.10 397.90 3,829
Soyoil MAY 55.40 0.23 0.4 55.08 55.47 5,342
Soyoil JUL 55.82 0.23 0.4 55.49 55.90 7,760
