CBOT soybeans end higher on demand optimism; soyoil sets contract highs

CHICAGO, Feb 10 (Reuters) - Chicago Board of Trade soybean futures rose about 1% on Tuesday on technical buying, optimism about export demand and strength in soyoil futures, analysts said, but the benchmark soybean contract stayed below a two-month high set last week.

• Most-active CBOT March soybeans SH26 settled up 11-3/4 cents, or 1.06%, at $11.22-1/2 per bushel. The contract had peaked last week at $11.37-3/4.

• CBOT March soymeal SMH26 ended up $3, or 1.01%, at $300.80 per short ton.

• CBOT soyoil futures 0#BO: set life-of-contract highs across the board, with benchmark March soyoil BOH26 settling up 0.58 cent, or 1.02%, at 57.27 cents per pound.

• Soybeans rose despite bearish data in the U.S. Department of Agriculture's monthly supply-demand report.

• The agency raised its estimate of soybean production in top world supplier Brazil to 180 million metric tons, from its previous estimate of 178 million and above an average of analyst estimates for 179.39 million.

• The USDA left its forecast of U.S. soybean stocks remaining at the end of the current marketing year unchanged at 350 million bushels.

• Yet some brokers remain optimistic that U.S. soybean exports will increase, potentially tightening ending stocks, in light of U.S. President Donald Trump's remark last week that China had increased its target for U.S. soybean purchases under a trade truce.

• "China is reported to be considering buying more U.S. soybeans," the USDA said in its monthly report.

• CBOT soyoil futures have been buoyed this week by optimism about demand from the biofuels sector as well as a U.S.-India trade pact that could boost export demand.