Chicago soybean futures rose for a fifth consecutive session on Monday to their highest since July 10 on strong demand, even as expectations of crop-friendly weather and ample world supplies capped gains, reports Reuters.
Corn lost ground as weakness in oil prices raised demand concerns for the grain-based fuel ethanol.
The U.S. Department of Agriculture on Friday confirmed sales of 126,000 tonnes of U.S. soybeans to unknown destinations, bringing the total for U.S. soy sales announcements last week to 1.5 million tonnes, including about 1 million tonnes to China.
National Oilseed Processors Association last week reported that soyoil stocks among its U.S. members fell more than expected to 1.778 billion pounds last month from 1.880 billion at the end of May.
