Soybean futures for November delivery on the Chicago Board of Trade gained 10 1/2 cents, or 1%, to $10.31 a bushel. At the same time, prices for soybean meal surged 4.4%.
Corn futures edged higher in a choppy day of trade, lifted by strength in soybean prices, though analysts said any upswing would be capped by the massive crop coming in from fields and favorable harvest weather forecast for the U.S. Corn Belt in the next two weeks. Sluggish demand for U.S. corn weighed on prices, with disappointing export sales of the grain and continued reports of high yields prompting speculation that estimates for domestic stockpiles could grow in coming months.