Soyameal soars on Argentina crop woes, short covering
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Chicago
US soyabean meal futures climbed to 18-month highs on Friday as short-covering and concerns about tightening exports from Argentina, the top shipper of the livestock feed, helped to fuel gains.
Soyabean and corn futures rose on spillover support from meal's rally, traders said, while wheat futures slipped under pressure from the strengthening US dollar. "It's no doubt a meal-led rally," said Don Roose, president of Iowa broker US Commodities.
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