27/12/2022 (Successful Farming) - Chicago Board of Trade soybean futures inched higher on Tuesday, paring gains after earlier hitting a six-month high as traders weigh the impacts of China's lifted COVID lockdown measures and assess crop conditions in parched Argentina, analysts said.

 * The benchmark CBOT March soybean futures contract added 4-1/2 cents to $14.89 a bushel, after climbing to $15.22-3/4, the highest for a most active contract since June.

* CBOT March soymeal eased $3.50 to $447.80 a ton while nearby January soymeal slipped $3.50 to $451.80 a ton.

* January soyoil futures added 1.72 cents to 67.65 cents per lb, while most active March soyoil futures gained 1.74 cents to 66.39 cents per lb.

* Expected rains in Argentina missed crucial parts of the country where parched crops are in need of moisture, which could impede soybean yields.

* Soybean export inspections during the week ended Dec. 22 totaled 1.75 million tonnes, near the high end of analyst estimates ranging from 1.2 million to 1.86 million tonnes.

* Brazil's soybean exports could reach 1.715 million tonnes in December, according to industry group ANEC, down from 1.750 million tonnes in its previous week's forecast. The nation's soymeal exports could hit 1.504 million tonnes, down from 1.523 million tonnes forecast last week.

* Malaysian palm oil futures rallied more than 7% on Tuesday, hitting a near three-week high after key market China said it would further ease border controls for inbound travelers.

(Reuters)

https://www.agriculture.com/markets/newswire/cbot-soybeans-gain-on-export-optimism