GRAINS-US soybeans up as soyoil soars; Black Sea tensions lift wheat, corn
DBA•Soybeans, soyoil, wheat and corn gain
U.S. soybean futures climbed back above $12 per bushel on Friday as soyoil soared nearly 3% to a six-week high on rising demand for the biofuel feedstock, analysts said.
Fresh U.S. soybean sales to China and other destinations lent support. Wheat and corn futures firmed on fears of grain export disruptions from the Black Sea region.
Chicago Board of Trade November soybeans SX26 settled up 8 cents, or 0.7%, at $12.03 per bushel while December soyoil BOZ26 ended up 1.86 cents, or 2.6%, at 72.43 cents per pound. CBOT September wheat WU26 settled up 8 cents, or 1.2%, at $6.82-3/4 per bushel and December corn CZ26 finished up 3-1/2 cents, or 0.75%, at $4.67-1/2 a bushel.
