Soya up on rust worry; corn and wheat

Chicago Board of Trade grain and soy complex closing trends on Tuesday.
WHEAT: 4-1/2 to 9 cents per bushel higher, December up 4-1/2 at $3.10-3/4 - Fund short-covering amid the huge short positions held by funds. Funds bought 2,000 lots. Wheat traders are awaiting results of potential wheat sales to Pakistan and Iraq. Overnight Taiwan set a tender on Thursday to buy up to 42,500 tonnes of US wheat. The climb in wheat futures continues to be slowed by good crop weather in the US winter wheat belt, which is boosting the crop's condition ratings.
USDA on Monday said 78 percent of the crop was good to excellent. That's the same as a week ago but well above the 48 percent good to excellent of a year ago.
CORN: 1-3/4 cents per bushel higher to 1/2 lower, December up 1/2 at $2.03 - Prices continue to hover near $2 in December corn. Late gains in soy supportive.
Gains limited by some profit-taking after a recent climb. Commercials on both sides and active but light net sellers. December/March spreading a feature as firms roll December positions before first notice day November 30.
SOYABEANS: 3 to 8 cents per bushel higher, January up 4-3/4 at $5.40-1/2 - Rallies late on buying by fund trader Refco Inc Market was on edge on potential spreading of Asian soy rust in the United States.
SOYAMEAL: $2.00 to $3.30 per ton higher, December up $2.70 at $156.40 - Unwinding of oil/meal spreads boosted soymeal and weighed on soyoil. US cash soymeal markets were steady to weaker.
SOYAOIL: 0.26 cent per lb lower to 0.20 higher, December down 0.26 at 21.25 cents - Unwinding of oil/meal spreads weighed on soyoil and boosted soymeal. Market setting back after the strong price rise on Monday when funds covered short positions.