CBOT soy rallies as Brazil harvest delays raise U.S. export hopes

CHICAGO, Feb 23 (Reuters) - U.S. soybean futures rose for the third day in a row on Tuesday, hitting their highest in more than five weeks on expectations that export demand for U.S. supplies will remain strong due to harvest delays in Brazil. * Soymeal and soyoil futures also were strong, with soyoil hitting its highest since June 2013. * Soymeal topped out at its highest since Jan. 21. * A strong export pace of soybeans could limit the amount of supplies available to crush into soymeal and soyoil. * Agroconsult raised its forecast for Brazil's soybean crop by 1.6 million tonnes to 134 million. * Chicago Board of Trade May soybean futures rose above their 20-day Bollinger range, closing above that key technical benchmark for the first time since Dec. 29. Last Net Pct Low High Volume chng chng SOYBEANS MAR1 1405.50 21.75 1.6 1380.75 1425.00 74588 SOYBEANS MAY1 1408.00 20.50 1.5 1383.75 1428.25 163459 SOY MEAL MAR1 426.50 3.40 0.8 422.40 433.50 29173 SOY MEAL MAY1 426.30 3.40 0.8 421.90 433.00 56629 SOYBEAN OIL MAR1 49.25 1.35 2.8 47.71 49.53 31542 SOYBEAN OIL MAY1 48.35 1.13 2.4 47.03 48.67 71421 (Reporting by Mark Weinraub; Editing by Richard Chang)

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