GRAINS-Soybeans firm on bargain buying, exports; wheat, corn weak
(Recasts, updates with U.S. trading, adds new analyst quote, changes byline, dateline, pvs PARIS/SINGAPORE)
By Mark Weinraub
CHICAGO, Sept 29 (Reuters) - U.S. soybean futures firmed on Thursday on a mild round of bargain buying and short-covering ahead of a key government report on Friday, traders said.
Signs of strong export demand for the oilseed also lent support to soybean futures but gains were kept in check by reports of good yields from fields in the western part of the U.S. Midwest as harvest ramped up.
Wheat futures fell on a technical setback amid ample global supplies. Corn futures were down slightly, under pressure from the wheat market and a weak export report.
Trading was choppy as investors squared positions ahead of the U.S. Agriculture Department's closely watched quarterly U.S. grain stocks data on Friday.
"Nobody wants to really make a commitment one way or the other," said Bill Gentry, a broker at Risk Management Commodities in Lafayette, Indiana.
At 10:15 a.m. CDT (1515 GMT) Chicago Board of Trade November soybean futures were up 3-1/4 cents at $9.48-3/4 a bushel.
USDA on Thursday morning reported export sales of U.S. soybeans in the latest week at 1,692,900 tonnes, topping a range of trade expectations for 1.1 million to 1.3 million. Continuación...