CBOT soybeans close firmer for fourth straight session

CHICAGO: Chicago Board of Trade soybean futures rose to a 3-1/2-month high on Thursday, their fourth straight gain on a round of technical buying.

Traders noted the market found support from early weakness when the benchmark CBOT November contract dipped below the high end of its 20-day Bollinger range.

Soymeal futures also rose to their highest since March 23, supported by a round of long soymeal/short soyoil spreading.

Soyoil futures fell, under pressure from technical selling after the benchmark December contract failed to break through its 200-day moving average twice this week.