CBOT soybeans finish higher with soyoil
Chicago Board of Trade soybean futures finished higher in nearby contracts on Monday while soyoil futures also rose.
CBOT soybeans recovered after weakening earlier in the session under pressure from concerns about U.S. President Donald Trump's trade war with China, the world's biggest soy importer, analysts said.
Traders said they were waiting for a potential announcement from the U.S. government on the amount of biofuels that refiners must blend into their fuel mix.
At 3 p.m. CDT (2000 GMT) on Monday, the U.S. Department of Agriculture is slated to issue a weekly update on soybean plantings.
U.S. farmers were estimated to have planted 17% of soybeans as of Sunday, a Reuters survey showed ahead of USDA's crop progress report. A week ago, 8% of the crop was planted.
CBOT July soybeans (SN25) closed up 3-1/4 cents at $10.62-1/2 per bushel.
CBOT July soyoil (BON25) advanced 0.65 cent to end at 50.46 cents per pound.
CBOT July soymeal (SMN25) ended down $2.60 at $295.90 per short ton.
