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334582

CBOT soybeans firm ahead of key USDA reports

CHICAGO, Oct 10 (Reuters) - Chicago Board of Trade soybean futures firmed on Monday, as traders jockeyed to adjust their positions ahead of two key government reports, traders said. * The U.S. Agriculture Department's monthly World Agricultural Supply and Demand Estimates and Crop Production reports on slated to come out Wednesday. * Traders say the markets are worried that USDA may raise soybean yield or acres in the report, as they have in past years. * Uncertainty about demand from China, the world's largest buyer of soybeans, also kept the gains in check on the day, traders said. * The benchmark CBOT November soybean futures contract settled up 7 cents at $13.74 a bushel. * CBOT December soymeal settled up $5.00 at $405.70 a ton and CBOT December soyoil slipped 0.54 cent to 66.06 cents per lb. * Two stretches of the southern Mississippi River were reopened to commercial traffic over the weekend after dredging operations deepened the shipping channel near Memphis, Tennessee, and near Stack Island, Mississippi, the U.S. Coast Guard said on Monday. (Reporting by P.J. Huffstutter Editing by Tomasz Janowski)

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