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CBOT soybeans rise with export hopes

CHICAGO, Aug 22 (Reuters) - Chicago Board of Trade soybean futures rose on Monday, led higher by gains in soymeal futures and signs of strong demand from China, traders said. * Soyoil futures also posted sharp gains, shrugging off weakness in the crude oil market. * The U.S. Agriculture Department on Monday morning said that export inspections of soybeans totaled 686,583 tonnes in the week ended Aug. 18, in line with trade expectations for 400,000 to 875,000 tonnes. USDA also boosted its estimate of the prior week's soybean inspections total to 768,328 tonnes from 744,571 tonnes. * Analysts were expecting a USDA report on Monday afternoon to show good-to-excellent ratings for the U.S. soybean crop at 58% on Aug. 21, unchanged from the previous week. * CBOT November soybeans settled up 31-1/4 cents at $14.35-1/4 a bushel, breaking through its 10-day, 20-day and 50-day moving averages on its way to a one-week high. * CBOT December soymeal gained $13.10 to $415.40 a ton and CBOT December soyoil was 0.65 cent higher at 66.35 cents per lb. * China's soybean imports from Brazil dropped in July from a year ago, while shipments from the United States increased, customs data showed on Saturday, as high prices curbed demand for South American cargoes. (Reporting by Mark Weinraub; Editing by Tomasz Janowski)

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