CHICAGO, Aug 15 (Reuters) - Chicago Board of Trade soybean futures rose for the fourth time in five sessions on Friday, lifted by short covering ahead of the weekend and ahead of a closely followed crop tour set to gauge yield potential across the Midwest next week.
Soybeans remain well supported by this week's U.S. Department of Agriculture forecast for a smaller-than-expected U.S. harvest. Gains, however, have been limited by sluggish new-crop export demand amid trade tensions with top buyer China.
The Pro Farmer Midwest crop tour will gauge soybean yield potential across seven states next week before issuing its crop outlook next Friday. Traders will be monitoring tour findings after the USDA on Tuesday projected record-large soybean yields.
Good domestic demand for soybeans was supportive to futures after the National Oilseed Processors Association on Friday reported a record July U.S. crush, which was the fifth-largest for any month on record.
CBOT November soybeans SX25 settled 14 cents higher at $10.42-1/2 per bushel. The contract was up 5.6% in the week, its first weekly gain in four weeks and the largest for a most-active contract Sv1 since early April.
CBOT September soymeal SMU25 fell 90 cents to settle at $283.40 per short ton.
CBOT September soyoil BOU25 added 1.19 cents to close at 53.18 cents per pound.