US soyabean futures rose early on Wednesday, staying near a four-month high on the prospect of more US exports as dry weather threatens crops in South America. Wheat and corn were nearly unchanged in choppy trade as plentiful global wheat supplies and early declines on Wall Street hung over the market.
Chicago Board of Trade soyabeans got a boost after the US Department of Agriculture confirmed sales of 116,000 tonnes of US soyabeans to China. The three-day soya sales total was 519,000 tonnes, with 331,000 tonnes targeted for delivery in the current marketing year than began September 1.
At the CBOT as of 10:35 am CST (1635 GMT), March soyabeans were up 10 cents at $12.65 per bushel after reaching $12.69, the highest spot soyabean price since October 17, 2011. March corn was up 2-1/2 cents at $6.36 per bushel and March wheat was up 1-1/4 cents at $6.36-1/4 a bushel.
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