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334998

CBOT soybeans rise 1.4% on export strength

CHICAGO, Oct 20 (Reuters) - U.S. soybean futures rallied on Thursday on signs of strong export demand, traders said. * Bullish export data also supported soymeal futures while soyoil eased on a mild round of profit-taking after the most active contract hit a four-month high. * The U.S. Agriculture Department said on Thursday morning that export sales of soybeans totaled 2.336 million tonnes in the week ended Oct. 13, the biggest weekly total in a year. Analysts had been expecting soybean export sales between 1.7 million and 2.8 million tonnes. * Separately, USDA said that private exporters reported the sale of 201,000 tonnes of soybeans to China and 132,000 tonnes of soybeans to unknown destinations. * Soymeal export sales totaled 542,300 tonnes, USDA said. That was near the high end of trade forecasts that ranged from 150,000 to 600,000 tonnes. * The benchmark Chicago Board of Trade November soybean futures contract settled up 19 cents at $13.91-1/2 a bushel. * CBOT November soybeans rose above their 10-day and 20-day moving averages. * CBOT December soymeal gained $11.60 to $413.30 a ton, breaking through resistance at its 100-day, 200-day and 20-day moving averages. * CBOT December soyoil lost 0.22 cent to 70.44 cents per lb. (Reporting by Mark Weinraub)

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