Markets

CBOT soybeans end up in late short-covering rally

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* Commercial pricing emerged at the day's lows to help underpin the market, they said.

* Volume in soybean futures was light at about half the prior 30-day average, but soyoil volume was up 35 percent from its 30-day average.

* For the week, spot CBOT soybeans were up 0.2 percent on continuous charts, halting a two-week slide.

* Soymeal futures ended higher but soyoil closed lower as traders unwound long soyoil/short soymeal spreads.

* Soy market underpinned by a setback in the dollar, which fell against the euro on the possibility the European Central Bank will lend to the International Monetary Fund to bail out bigger euro zone economies.

* USDA confirmed sales of 124,500 tonnes of US soybeans to China for 2011/12 delivery, the second large sale to China in as many days. Traders said soybeans rallied on talk of the sales earlier this week.

Copyright Reuters, 2011