CHICAGO: Chicago Board of Trade soybean futures rose for a second straight day on Tuesday, buoyed by gains in soyoil and as the US Department of Agriculture is expected to cut its US soy yield outlook in a report later this week, traders said.
Traders squaring positions ahead of the USDA's monthly supply/demand reports on Thursday, in which analysts expect the government to trim is estimate of US 2017 soybean production.
CBOT January soybeans settled up 2 cents at $9.96 per bushel.
CBOT December soymeal ended down 60 cents at $315.50 per short ton and December soyoil rose 0.29 cent to 35.02 cents per pound.
China will commit to buy more US soybeans during President Donald Trump's visit to Beijing this week, a US industry official said.
The market was underpinned by the winding down of the US soy harvest. The USDA late Monday said the soybean crop was 90 percent harvested, close to the five-year average of 91 percent.
The CME Group reported 33 deliveries against CBOT November soybean futures.
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