CHICAGO: Chicago Board of Trade soybean futures rallied for the fourth day in a row on Tuesday, rising 1.7 percent on strong export demand.
Some concerns about rainy weather in parts of the US Midwest delaying harvest and tightening supplies available for crushers and exporters until fields dry out also lent support.
The most-actively traded CBOT soybean contract hit its highest since August 25.
Concerns about tight supplies boosted soymeal futures, which followed strength in the cash market.
Soyoil futures notched the biggest gains in the soy complex, rallying 3.2 percent to a their highest since Aug. 24. A rally in palm oil, stemming from rising Chinese demand, spilled over to soyoil.
CBOT November soybeans broke through technical support at their 50-day moving average for the first time since July 14.
The US Agriculture Department said private exporters reported the sale of 110,000 tonnes of soybeans to China for delivery in the 2016/17 marketing year.
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