Firm US cash markets were also supportive as farmers held freshly harvested soyabeans, hoping prices would trend higher as the market has been trapped within recent trading ranges.
"What we're doing is trying to pry soyabeans away from the producer," said Don Roose, analyst with US Commodities in West Des Moines, Iowa.
"We're having a hard time with that because there's no LDP (loan deficiency payment) and his marketing choice is to take a (government) loan out and hold.
That is forcing the processors, the end users, to bid up for basis beans and causing a firmer tone to the market," Roose said. November soyabeans closed 9-3/4 cents higher at $5.74-1/2 per bushel, while January was up 10-1/2 at $5.86-1/2.
Buying in January escalated when it went through its 20-day moving average of $5.86-1/2. The market was higher despite fears about reduced soyabean and soyameal demand due to the spread of bird flu in Asia and Europe and expectations that the USDA will lift its US soya stocks estimate in its November 10 crop report.
The expected increase reflects a lagging export pace from a year ago, along with prospects that the US soyabean harvest is bigger than last month's projections had it.
The US soya harvest was nearing completion. USDA said late on Monday that 92 percent of the US soyabean crop was harvested, up from 87 percent last week and above the five-year average of 86 percent. Meteorlogix weather on Tuesday said wet weather might slow the tail end of harvest in the eastern Midwest later this week.
US cash basis markets were firm, underpinned by slowed country sales as farmers want higher prices for this year's harvest. Processors hiked their spot basis bids as much as 15 cents this week, trying to stir some sales.
Even so, CBOT prices were more attractive, triggering another round of heavy deliveries, 1,151 lots, against the November contract on Tuesday. However, there was some commercial stopping, with the Term Commodities house account taking 407 lots.
Soya registrations with the CBOT increased to 1,572 lots from the previous 1,132. There was generally satisfactory crop weather in South America, allowing for farmers to plant soyabeans.
Overnight export business featured Taiwan setting a tender on Wednesday to buy 40,000 to 60,000 tonnes of US soyabeans. The soya products closed firm, following soyabeans.
Soyameal saw an added boost from chart-based buying by funds and late meal/oil spreading, floor traders said. CBOT December soyameal was up $3.80 at $173.50 per ton, with the deferred up $2.90 to $4.20.
CBOT December soyaoil closed 0.16 cent per lb higher at 23.02 cents, with the back months 0.11 to 0.26 firmer. The November-December crush settled 0.37 cent per lb higher at 60.42 cents and the January crush was 2.14 cents firmer at 53.59 cents.
Malaysian palm oil markets were closed for holiday.