CBOT soybeans end fractionally higher, trailing gains in wheat

CHICAGO, June 18 (Reuters) - Chicago Board of Trade soybean futures closed fractionally higher on Wednesday, buoyed by a 4% surge in wheat, but the benchmark July soybean contract SN25 pared most of its gains after setting a one-month top.

• CBOT July soybeans SN25 settled up 3/4 cent at $10.74-3/4 per bushel, easing after reaching $10.79-3/4, its highest level since May 14. New-crop November soybeans SX25 ended up 1/2 cent at $10.68-1/4.

• CBOT July soyoil BON25 ended down 0.02 cent at 54.77 cents per pound and July soymeal SMN25 settled down 20 cents at $284.90 per short ton.

• Soy complex futures were consolidating following a spike in soyoil futures 0#BO: on Friday and Monday that was tied to larger-than-expected proposed U.S. biofuel mandates.

• U.S. markets and most government offices will be closed on Thursday in observance of the Juneteenth federal holiday.

• Ahead of the U.S. Department of Agriculture's weekly export sales report on Friday, analysts expected the government to report export sales of U.S. old-crop soybeans in the week ended June 12 at zero to 400,000 metric tons and new-crop sales of zero to 200,000 tons.

• China's move to curb the use of soymeal in animal feed to reduce its dependence on imports is feasible but will be costly and technically challenging for the smaller farmers who account for one-third of Chinese pork production, industry experts say.