CHICAGO, Nov 29 (Reuters) - Chicago Board of Trade soybean futures ended slightly higher on Friday on technical trading and a flurry of export demand, market analysts said.
But soybean prices remained under pressure on forecasts for timely showers in Brazil and Argentina, which should continue to aid development in what is expected to be a hefty crop, market analysts said.
CBOT soybeans Sv1 settled up 3/4-cent at $9.89-1/2 a bushel and corn Cv1 rose 5 cents at $4.33 a bushel. The most-active wheat contract Wv1 ended the session down 1/2-cent at $5.48 a bushel.
U.S. commodities markets were closed on Thursday for the Thanksgiving holiday. CBOT grain and oilseed trading closedearly on Friday at 12:05 p.m. CST (1805 GMT).
The U.S. Department of Agriculture reported weekly 2024-25 U.S. wheat and corn export sales that were in line with trade expectations. But weekly U.S. soybean export sales were above trade estimates, USDA data showed, with strong demand for U.S. soyoil, soymeal and soybeans.
"The soybean buying was driven by demand for China, although that is expected to quickly dry up over the next 30 to 60 days as cheaper Brazilian new-crop supplies become available," Arlan Suderman, chief commodities economist at StoneX, wrote in an analyst note on Friday.
Soyoil futures turned higher, following Malaysian palm oil futures FCPOc3, which rose for a fifth straight session and booked a weekly gain on Friday amid supply concerns.
Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market.
