CBOT soybeans close higher as crude oil prices jump

CHICAGO, May 11 (Reuters) - Chicago Board of Trade soybean futures closed higher on Monday on spillover buying from a rally in crude oil.

  • Traders were waiting to see whether China, the world's biggest soybean importer, would agree to buy U.S. supplies in conjunction with U.S. President Donald Trump's planned May 14-15 visit to China.

  • Some analysts have said China may commit to buying a larger amount of U.S. soybeans in the fall.

  • CBOT July soybeans SN26 rose 5 cents to $12.13 per bushel.

  • CBOT May soyoil BON26 fell 0.58 cent to end at 73.74 cents per pound, and May soymeal SMN26 jumped $5.10 to $324.80 per short ton.

  • Oil prices climbed by more than 3% after Trump said the ceasefire with Iran was "on life support."


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