US export demand pushes up CBOT soybeans
CHICAGO, Nov 4 (Reuters) -Chicago Board of Trade soybean futures finished stronger on Monday as U.S. export demand remained solid ahead of the nation's presidential election, traders said.
Exporters sold 132,000 metric tons of U.S. soybeans to unknown buyers, the U.S. Department of Agriculture said, adding to a flurry of recent sales announcements from its daily reporting system.
Farmers worry that the re-election of Donald Trump in Tuesday's U.S. presidential election would increase trade tensions with China, the world's biggest soy importer, and hurt Chinese demand for U.S. crops.
Farmers have nearly completed the U.S. soybean harvest, reducing pressure on futures prices, traders said.
In Brazil, soy planting was 54% complete as of last Thursday, consultancy AgRural said, up from 51% a year ago.
Most-active CBOT January soybeans SF25 rose 3-1/2 cents to $9.97-1/4 per bushel.
CBOT December soymeal SMZ24 ended up $4.30 at $299.60 per short ton, and December soyoil BOZ24 fell 0.74 cent to 45.56 cents per pound.
Oil prices climbed nearly 3%, setting a positive tone for crop prices, traders said.
Reporting by Tom Polansek; Editing by Andrea Ricci
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