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334857

CBOT soybeans firm but end below session peaks

CHICAGO, Oct 17 (Reuters) - U.S. soybean futures ended firm on Monday, with signs of strong export demand underpinning the market. * But prices closed well below their session highs with harvest pressure and concerns that China will soon shift demand to South American suppliers beating back the rally attempt. * The U.S. Agriculture Department said on Monday morning that weekly export inspections of soybeans totaled 1.882 million tonnes, nearly double the prior week's total and above the high end of trade forecasts. * Analysts were expecting a government report on Monday afternoon to show U.S. farmers had completed 60% of their soybean harvest as of Oct. 16. * The monthly U.S. soybean crush dropped to a one-year low in September and fell short of most analyst estimates, while soyoil stocks thinned to a two-year low by the end of the month, according to National Oilseed Processors Association data. * Chicago Board of Trade soybeans for November delivery gained 1-1/2 cents to $13.85-1/4 a bushel. * CBOT December soymeal futures dipped 10 cents to $411.00 a ton and CBOT December soyoil rose 1.54 cents to 66.84 cents per lb. (Reporting by Mark Weinraub; Editing by David Gregorio)

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