CHICAGO: Soybean futures on the Chicago Board of Trade closed higher on Thursday after a seesaw session as spillover strength from corn and wheat offset pressure from strong US soy yield prospects, traders said.
CBOT November soybeans settled up 3/4 cent at $9.43-3/4 per bushel after trading as low as $9.37, the contract's lowest since April.
The US Department of Agriculture's weekly export sales report showed sales of 107,500 tonnes of old-crop soybeans and 1,476,400 tonnes of new-crop soybeans in the week to Aug. 25, in line with trade expectations.
Through its daily reporting system, the USDA said private exporters reported sales of 147,000 tonnes of US soybeans to unknown destinations for 2016/17 delivery.
The USDA's monthly report on oilseed crushings, due later on Thursday, will likely show that 4.596 million short tons, or 153.2 million bushels, of soybeans were processed in July, a Reuters poll showed.
Brokerage INTL FCStone forecast Brazil's 2016/17 soybean crop, which will be planted in the coming months, at 101.85 million tonnes, up from 95.42 million in 2015/16. The USDA has forecast a crop of 103 million tonnes.
The CBOT reported no September deliveries of soybeans or soymeal, while soyoil deliveries totaled 760 contracts.
CBOT soymeal closed mixed with the most-active December contract ending 10 cents lower at $306.60 per ton.
CBOT soyoil closed lower, with benchmark December falling for a fourth straight session and setting a three-week low.
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