Chicago Board of Trade soyabean futures edged up on Wednesday after trading lower for most of the day, lifted by short-covering and spillover support from higher corn and wheat, traders said. Benchmark CBOT March soyabeans gained 3/4 cents to settle at $9.68-3/4 a bushel, the contract's third straight daily gain. Soyabean gains were limited by expectations for a bumper harvest in Brazil, although early harvesting in the world's top soyabean exporting country has been stalled by rain in some areas. Lighter-than-expected rains in Argentina, the world's No 3 soyabean exporter and top soyameal and soyaoil supplier, also underpinned futures.
Soya producers in Brazil's Mato Grosso state have sold less new-crop beans so far than they did last year, as they hoard in the hope of better prices ahead, farm cooperative Coacen said.
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