CBOT soybeans rebound from 5-month low on short-covering

CHICAGO: Chicago Board of Trade soybean futures edged higher on Tuesday, rebounding from a five-month low on short-covering and as rains delayed the harvest in some parts of the United States, traders said.

Most-active CBOT November soybeans surged nearly 20 cents from a session low and five-month low of $9.34 per bushel as traders exited short positions ahead of a US Department quarterly grain stocks report due on Friday.

Soymeal futures were slightly higher, also rising from an earlier five-month low, while soyoil futures were roughly unchanged.