CHICAGO: Chicago Board of Trade soybean futures closed higher for the fifth time in six sessions on Wednesday on poor crop weather in South America and on hopes that US-China trade talks would trigger more US soy sales to the top importer, traders said.
* CBOT March soybeans rose 5-1/2 cents to $9.24 per bushel and ended just below its 200-day moving average, a chart resistance level the contract has failed to breach for three straight days.
* CBOT March soymeal ended up $1.80 at $323.40 per short ton while March soyoil rose 0.17 cent to 28.60 cents per pound.
* Poor crop weather in South America underpinned soybeans as hot and dry conditions in parts of Brazil and excessive rains in Argentina have trimmed crop prospects.
* Consultancy AgRural slashed its Brazilian soy crop estimate on Wednesday to 116.9 million tonnes, from 121.4 million previously, citing poor weather in southern Brazil.
* The CBOT reported 1,142 January soybean deliveries. January soymeal deliveries totaled 510 contracts and January soyoil deliveries totaled 251 contracts.
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