CHICAGO: Chicago Board of Trade soyabean futures finished higher on Wednesday on short covering after the US Department of Agriculture projected a massive harvest.
The most-active soyabean futures contract rose 9-1/2 cent to $8.83 a bushel.
Soyameal futures rose $0.10 to $284.20 per short ton, while soyaoil rose $0.94 to $31.56 per pound.
The USDA said in a monthly report that US farmers will reap their second biggest soyabean harvest. The projection confirmed traders' expectations, prompting some to cover previously sold positions, brokers said.
Chinese demand for US soyabeans also helped support prices, traders said. The USDA, in the report, increased its estimate for China's soyabean imports to 99 million tonnes from 96 million in July.-Reuters
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