Minnesota, the No 3 US soya-producing state last year saw unseasonably cold weekend temperatures in 26 counties, including record lows in the 20-degree Fahrenheit range (7 C).
Paul's Star Tribune newspaper reported on Tuesday that the state's crop losses were expected to total hundreds of millions of dollars. The US Department of Agriculture said on Wednesday it expected to complete a damage assessment for the state next week.
CBOT soyabeans settled up 6-3/4 cents to down 1/4 cent, with September up 3-1/4 cents at $6.23-1/4, after hitting a one-month high of $6.37-1/2 and November up 6-1/4 cents at $6.12-1/2.
Commodity fund bought about 2,200 lots and commercials were net sellers, brokers said.
Cargill Investor Services bought 1,000 November, while Prudential Securities, Rand Financial and Reface Inc sold November late after buying, they added.
Still, CBOT September soyabeans remained technically overbought, with the nine-day Relative Strength Index settling at 75.
Technical traders view a reading of 70 or higher as an overbought market and 30 or lower as an oversold market.
CBOT soyameal futures closed down $5.30 to up $2.30 per ton, with September down $5.30 at $194.00 and December up $2.00 at $183.20. Commodity funds bought about 1,400 lots and commercials were net sellers, brokers said.
Bear spreading hit September soyameal, with Toenec Inc, FIMAT Futures and Term Commodities buying December and selling September, they said. Cash US soyameal basis offers also weakened on Wednesday, brokers said.
CBOT soyaoil futures ended up 0.05 cent to 0.27 cent per lb, with September up 0.27 cent at 25.19 and December up 0.24 cent at 23.76 cents. Commodity funds bought about 1,500 lots and commercials were active on bought sides of the market, brokers said.
Private forecaster Meteorlogix forecast normal to above-normal temperatures throughout the US soya belt through next week.
CBOT traders awaited on Thursday's US Census Bureau July soyabean crush data, with analysts forecasting a July US soya crush of 115.7 million bushels, above the June crush of 109.36 million bushels.
July soyameal stocks were seen at 340,000 tons, above the June tally of 315,000 tons, and July soyaoil stocks at 1.404 billion pounds, down from the June tally of 1.516 billion pounds, analysts said.
The CBOT September soya futures crush margin ended on Wednesday down 11.94 cents at 80.64 cents per bushel.