CBOT soybeans edge higher on stronger soymeal futures
CHICAGO, Aug 20 (Reuters) - Chicago Board of Trade soybean futures chopped up and down but ended higher on Wednesday on strengthening soymeal futures while traders monitored results from a U.S. Midwest field tour.
The soybean market has found support from rising soymeal futures, which have been buoyed by scheduled downtime at crush plants and an uptick in export demand.
Second-day results from the closely watched Pro Farmer crop tour on Tuesday showed Indiana soybean pod counts were slightly below 2024 levels. Nebraska recorded its highest soybean pod count in at least 22 years.
The annual tour, which continues until Thursday, is widely followed by industry players.
On Tuesday, U.S. soybean farmers urged President Donald Trump in a letter to reach a trade deal with China that secures significant soybean purchase agreements.
China's soybean imports from the U.S. fell 11.5% in July from a year earlier, customs data showed on Wednesday .
CBOT November soybeans SX25 settled 2-1/4 cents higher to $10.36 per bushel.
CBOT December soymeal SMZ25 rose $1.30 to $297.20 per short ton.
CBOT December soyoil BOZ25 fell 0.36 cent to settle at 51.45 cents per pound.
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