US soyabean prices rebounded Wednesday after a two-day sell-off, underpinned by short-covering, talk of Chinese demand and worries that US farmers might not plant enough soyabeans this spring to meet global demand. Wheat futures posted modest gains, consolidating after declines earlier this week, while corn was choppy.
At the Chicago Board of Trade as of 10:42 am CDT (1542 GMT), front-month May soyabeans were up 4-1/2 cents at $13.49-1/2 per bushel. The November contract, which represents the new US crop to be harvested this fall, was up 8-1/4 cents at $13.15-1/2. CBOT May wheat was up 1 cent at $6.43-1/2 a bushel while May corn was down 1 cent at $6.46-1/2.
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