US Soyabean Futures Surges On Slow Plantation Progress

The most active soybean contract for July delivery gained 16 cents, or 1.78 percent to close at $ 9.1275 per bushel as traders worried about wet weather in U.S. Midwest delaying crop planting.As much as six times the normal amount of rain has fallen in parts of the U.S. Midwest in the past month, according to the National Weather Service (NWS).In its Crop Progress Report released on Monday, the U.S. Department of Agriculture (USDA) pegged U.S. soybean planting at 77 percent complete as of Sunday, far behind the 93 percent average.