Content ID

327860

CBOT soy ends higher on positioning before U.S. issues crop data

CHICAGO, May 11 (Reuters) - Chicago Board of Trade soybean futures closed higher on Wednesday amid positioning ahead of a monthly U.S. Department of Agriculture report due out on Thursday, analysts said. * CBOT July soybean futures advanced 14-1/2 cents to close at $16.06-3/4 a bushel. * CBOT July soyoil ended up 2.41 cents at 83.45 cents per lb, while CBOT July soymeal futures slid $3.60 to end at $397.90 per ton. * The U.S. Department of Agriculture's (USDA) global monthly crop report on Thursday will include the first official supply and demand estimates for the new crop year, 2022/23. * In Brazil, the 2022/2023 soybean harvest is estimated at 146 million tonnes, up 19.5% from the previous season, when a drought damaged part of the crop, Patria Agronegocios said. * A rally in crude oil helped lift soy prices, traders said. (Reporting by Tom Polansek in Chicago; Editing by Andrea Ricci)

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