CBOT soybeans rise from 2-1/2-month low on bargain buying

CHICAGO: US soybean futures rose on Tuesday, with bargain buyers stepping in to boost a market they viewed as oversold after it declined to its lowest in 2-1/2 months overnight.

* Uncertainty about the prospect of a trade deal between the United States and China kept gains in check, traders said.

* The benchmark Chicago Board of Trade (CBOT) May soybean futures contract broke through technical resistance at the low end of its 20-day Bollinger range.

* Soymeal and soyoil futures also posted higher closes.

* The higher close in soyoil futures marked its first day of gains since Feb. 28.

* Private analytics firm IEG Vantage trimmed its forecast for 2019 US soybean plantings to 85.494 million acres from 86.044 million acres.