CBOT soybeans rise on technical buying

CHICAGO: Chicago Board of Trade soybean futures rose 1.4 percent to their highest in 3-1/2 months on Wednesday, supported by technical buying, traders said.

Support for the benchmark CBOT November soybean futures contract was noted near the high end of its 20-day Bollinger range as well as its 200-day moving average.

The US Agriculture Department report released on Friday, which showed soybean acreage and stocks below analysts' expectations, continued to underpin prices.

Soybeans have risen for three days in a row, gaining 8.7 percent during that time.

Analysts were expecting an Agriculture Department report on Monday afternoon to show soybean ratings fell 1 percentage point to 65 percent good to excellent.