US soyabeans climbed to a one-month peak early on Tuesday, lifted by a 2 percent spike in soyameal futures and data showing near-record domestic crushings of the beans in January, traders said. Wheat futures were mixed, with some contracts turning lower after earlier hitting three-week highs on a short-covering bounce. Corn was narrowly higher in thin volume on the first trading day of the week following Monday's US Presidents Day holiday.
Soyameal futures posted the largest gains at the Chicago Board of Trade, with active soyameal-soyaoil spreading also weighing on soyaoil as investors positioned ahead of the National Oilseed Processors Association's monthly release.
The NOPA data, released at 11 am CST (1700 GMT), showed the US soyabean crush at 162.675 million bushels in January, near the average analyst estimate and the biggest ever for the month.
CBOT March soyabeans were up 8 cents to $9.98-1/2 per bushel as of 11:45 am, after earlier rising to $9.99-3/4 - one tick below the psychological threshold of $10. Soya prices remained anchored by record-large crops in South America, where farmers were in the early phases of harvest.
CBOT March wheat was up 2 cents at $5.35 per bushel after earlier trading as high as $5.48 while CBOT March corn was flat at $3.87-1/2.
Wheat was bolstered by worries that bitter cold conditions could hamper portions of the dormant crop not protected by snowcover in the southern US Midwest.
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