CBOT soybeans close higher on uncertain U.S. yield prospects

CHICAGO: Chicago Board of Trade soybean futures closed higher on Wednesday on technical buying and uncertainty about U.S. yield prospects, traders said.

CBOT November soybeans settled up 4-3/4 cents at $8.73 per bushel.

CBOT December soymeal ended up 80 cents at $300.30 per short ton and December soyoil finished up 0.33 cent at 29.12 cents per pound.

Soybean pod counts on the Pro Farmer Midwest Crop Tour Were lower than average in both Nebraska and Indiana, lending support to soybean futures.

Support was also noted from forecasts for cooler-than-normal temperatures in the U.S. Midwest in the next 15 days that could slow corn and soybean growth.

Ahead of Thursday's weekly U.S. Department of Agriculture Export sales report, analysts expected the government to report net soybean export sales of 150,000 to 800,000 tonnes (old and new crop years combined).