CHICAGO: Chicago Board of Trade soybean futures rose on Thursday on fresh export demand and bargain-buying after a three-day slide in the benchmark November contract, traders said.
Rally capped by the approaching harvest of a record-large US soybean crop.
CBOT November soybeans settled up 7-3/4 cents at $9.50-1/2 per bushel.
The US Department of Agriculture reported export sales of US soybeans in the week to Sept. 8 at 1,018,600 tonnes for 2016-17, in line with trade expectations for 900,000 to 1,200,000 tonnes.
The USDA through its daily reporting system said private exporters sold 110,000 tonnes of US soybeans to unknown destinations for 2016-17 delivery. It was the first daily soybean sales announcement in a week.
CBOT soyoil futures drew support from news that a European Union court ruled to annul anti-dumping duties imposed on exporters of biodiesel from Indonesia and Argentina.
CBOT soymeal futures followed the firm trend in soybeans and soyoil.
Market shrugged off a disappointing National Oilseed Processors Association August soy crush figure of 131.8 million bushels, which was down from 135.3 million a year ago and below the average analyst estimate of 136.2 million.
The CBOT reported no soybean deliveries against the expired September futures contract, 48 soymeal deliveries and 21 soyoil deliveries.
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