CBOT soybeans rally from multi-week lows on fresh export sales

CHICAGO, Dec 10 (Reuters) - Chicago Board of Trade soybean futures closed higher on Wednesday as news of fresh U.S. soybean export sales helped the market to bounce after hitting multi-week lows, traders said.

• CBOT January soybeans SF26 settled up 4 cents at $10.91-1/4 per bushel, rebounding after a dip to $10.81-1/2, the contract's lowest since October 30.

• CBOT January soymeal SMF26 ended down 10 cents at $301.20 per short ton while January soyoil BOF26 rose 0.07 cent to finish at 51.09 cents per pound.

• CBOT soybeans turned higher after the U.S. Department of Agriculture confirmed private sales of 136,000 metric tons of U.S. soybeans to China, another 331,000 tons to undisclosed destinations and 120,000 tons of soymeal to Poland.

• Rallies were capped by expectations of large soybean harvests in South America following weeks of mostly favorable weather, including rains this week across much of Brazil.

• Traders also remain uncertain about how quickly China will buy 12 million metric tons of U.S. soybeans under a trade truce with Washington.

• After the close of the CBOT, the USDA reported that U.S. processors crushed 237 million bushels of soybeans in October, topping an average of trade expectations for 234.2 million bushels.

• Ahead of the USDA's weekly export sales report due on Thursday, traders expected the government to report net export sales of U.S. soybeans in the week ended November 13 at 600,000 to 1.4 million metric tons.