CBOT soybeans close on South American crop questions, spillover support from corn and wheat

CHICAGO, May 20 (Reuters) - Chicago Board of Trade soybean futures turned higher on Tuesday amid short-covering and choppy trading, as market participants tried to glean information about whether recent rains have caused material damage to South America's crop.

• Soybeans also gained spillover support from strength in the corn and wheat futures markets, market analysts said.

• However, ongoing concerns over export demand amid a tariff battle with China capped gains, analysts said.

• CBOT July soybeans SN25 settled up 2-1/4 cents at $10.53 a bushel.

• CBOT July soyoil BON25 rose 0.06 cent to 49.5 cents per pound. CBOT July soymeal SMN25 rose $1.50 to $292.60 per short ton.

• Argentina's agricultural heartland has been lashed by heavy rains in recent days. Some soy fields got up to 400 millimeters (15.75 inches) of precipitation, bringing widespread flooding.

• The USDA said 66% of the U.S. soybean crop was planted as of Sunday, well ahead of average.

• Rains this week are expected to stall planting in most of the Midwest.