The January contract initially fell five cents, finding support at $5.80-1/2 per bushel. Light speculative buying surfaced at that level until the lead month surpassed its 50-day moving average of $5.89-1/2, climbing to $5.92.
January was up 4-3/4 cents at $5.90-1/4 by 11:05 am CST (1705 GMT) and November was up 5-3/4 cents at $5.80.
Tenco was featured buying 1,000 soyabean contracts. But volume was on the lighter side ahead of USDA's November report, making the market vulnerable to wide price swings, traders and analysts said.
Early pressure stemmed from concerns about a lagging export pace. The US soya exports are behind a year ago and, with the spread of bird flu in Asia and Europe, concerns are mounting that global soya demand could be off as farmers cull flocks. But there's also hope US meat exports could increase, thus increasing domestic soya use for pork and poultry feed.
An average of analysts' estimates pegged this year's US soyabean crop at 3.024 billion bushels, above the USDA's forecast in October for 2.967 billion. If realised, that would be the second largest soya harvest in US history.
Overnight export business was quiet. But there was talk that China was looking for either South American or US soyaoil on Tuesday. No sale was confirmed.
There were light November deliveries of 37 contracts early Wednesday and an R.J. O'Brien customer was the key stopper of 36 lots.
Midwest cash basis bids for soyabeans were steady at interior locations early Wednesday, dealers said.
CBOT soya registrations were unchanged at 1,790 lots.
Cash basis bids for soyabeans in the Midwest early Wednesday were steady amid minimal farmer selling.
The soya products followed the fall and rise in soyabeans. CBOT soyameal was up 70 cents to down 40 cents, with December up 50 at $174.40. Soyaoil was 0.04 to 0.26 higher, with December up 0.22 at 23.03 cents per lb.