CBOT soya futures up from multi-month lows

Chicago Board of Trade soyabean futures closed higher on Wednesday in a technical bounce from multi-month lows set a day earlier, along with worries about heavy rains stalling the Argentine soya harvest, traders said. CBOT May soyabeans settled up 6-1/2 cents at $9.44-1/4 per bushel. Also supportive, traders from China, the world's top soya buyer, returned to the market after a two-day holiday, sparking hopes of fresh export business. Rallies capped by the USDA's forecast last week for US soyabean plantings to reach a record-high 89.5 million acres for 2017, and by rising estimates of Brazil's soya crop.