CBT SOYBEAN FUTURES MOSTLY HIGHER AT MIDSESSION
CBT soybean futures held gains of three
to 6-1/2 cents per bushel in moderately light midsession trade,
with new crop supported by local house buying.
    Slow country movement, steady to firmer cash soybean basis
values and a delayed Brazilian harvest combined to support
futures from the opening, despite a disappointing drop in the
weekly soybean export figure yesterday, traders said.
    The advance above the psychologically important 5.00 dlr
mark in both old and new crop kept the chart picture bullish,
which could limit declines when South American sales begin to
pick-up later this month, they added.
    However, some traders said new crop prices above 5.00 dlrs
a bushel could encourage some farmers to plant more soybean
acres than they originally planned.
 Reuter
