CBOT soybean futures gain tracking Malaysia CPO.

Futures contracts of soybean traded higher on the CBOT tracking key crude palm oil contracts on Bursa Malaysia Derivatives. Prices of soybean and crude palm oil usually move in tandem as they are used in the production of bio-diesel. Poor condition of the soybean crop in the US, the world largest grower, due to dry weather also boosted prices on the Chicago bourse. The August soybean contract on CBOT traded at $9.9650 per bushel, up 0.8% from the previous close.