CHICAGO: Chicago Board of Trade soybean futures rose Wednesday, supported by fresh export demand and a round of technical buying and short-covering following a four-session slide in the November contract.
CBOT November soybeans settled up 10 cents at $9.60-1/2 per bushel.
CBOT December soymeal ended up $5.40 at $305.40 per short ton, supported by strength in soybeans and talk of stepped-up commercial pricing in China and Europe.
CBOT December soyoil bucked the firm trend, ending down 0.10 cent at 35.09 cents per pound, despite strength in soybeans and allied Malaysian palm oil.
The US Department of Agriculture said private exporters sold 167,370 tonnes of US soybeans to Mexico for delivery in the 2017/18 marketing year that began Sept. 1.
Rallies were capped by the USDA's forecast on Tuesday of a record-large US soy harvest totaling 4.431 billion bushels, with a larger-than-expected average yield of 49.9 bushels per acre.
Ahead of monthly US soy crushing data due Friday from the National Oilseed Processors Association, analysts surveyed by Reuters on average expected NOPA to report its August crush at 137.501 million bushels.
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