SYDNEY: US soybeans edged higher on Wednesday as strong demand from US processors pushed prices to a more than two-week high.

FUNDAMENTALS

The most-active soybean futures on the Chicago Board of Trade were up 0.1% to $11.85-3/4 a bushel by 0237 GMT, near the session high of $11.87-1/4 a bushel - the highest since Nov 30. Soybeans firmed 1.3% on Tuesday.

Corn futures were up 0.1% to $4.25 a bushel, having gained 0.1% in the previous session.

Wheat futures were up 0.5% at $6.03 a bushel, having closed up 0.5% on Tuesday.

US soy processors crushed 181.018 million bushels of soybeans in November, their third largest monthly crush on record, according to the National Oilseed Processors Association.

The report also showed the highest monthly soymeal export total in nearly eight years.

On Tuesday, Russian Prime Minister Mikhail Mishustin signed orders to implement a wheat export tax and grain export quota, aimed at stabilising food prices.