US soyabean futures rose for the third session in a row on Wednesday, gaining 1.6 percent, as muddy fields and forecasts for more rain threatened to add to the delays that have stymied farmers' planting tasks throughout the spring, traders said. CBOT July soyabean futures rose above their 50-day moving average for the first time since February 27 but failed to hold support above that key technical point.
The most-active contract peaked at its highest since April 16. Soyameal and soyaoil futures also gained sharply. Soyameal hit its highest since October 16. CBOT July soyaoil broke through its 30-day and 40-day moving averages before hitting resistance at its 50-day moving average.