Chicago Board of Trade soyabean futures rose on Tuesday, buoyed by fresh optimism about demand from China, the world's top buyer of the oilseed. China has given new waivers to several importers to buy US soyabeans exempt from retaliatory tariffs, in a goodwill gesture ahead of high-level trade talks next month, two sources familiar with the matter said on Tuesday.
The benchmark CBOT November soyabean futures contract found support from overnight weakness at its 10-day moving average. But the contract struggled to break above its Monday high of $8.99-1/4 a bushel, peaking just 1/4 cent below that level during Tuesday's session. The market gave up most of its gains after failing to take out that key technical point but managed to close in positive territory. Soyameal futures also closed slightly higher while soyaoil dipped.
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