Chicago agricultural commodities close higher

Chicago Board of Trade (CBOT) grains futures close higher on Tuesday with soybean futures rising to a fresh three-month high on robust world appetite for U.S. supplies of the oilseeds.

Corn inched higher while wheat was mixed ahead of the U.S. Thanksgiving holiday on Thursday.

The most active corn contract for December delivery rose 1.25 cents, or 0.36 percent, to 3.51dollars per bushel. March wheat delivery added 0.25 cents, or 0.06 percent, to 4.2725 dollars per bushel. January soybeans rose 26.5 cents, or 2.67 percent, to 10.2025 dollars per bushel.

Soybean prices swung higher for a fourth consecutive session due partly to buying by speculative investors optimistic about the market thanks to the brisk pace of exports this year.

Analysts said traders were encouraged by recent purchases by China, the world's largest soybean buyer, which have been supported by beneficial currency swings. U.S. farmers are relying on foreign importers like China to help soak up what is projected to be a record domestic crop this year.

Gains in the market were capped however by improving weather forecasts in South America, a major U.S. rival for soybean production and exports. Analysts said both northern and central parts of Brazil are now expected to receive beneficial rains in coming weeks, which could aid crops earlier beset by dryness.

Corn was on track for its fourth straight higher close, drawing support from soybeans, but plentiful stockpiles following a record-large U.S. harvest curbed upward momentum.

Wheat was mixed, with K.C. hard red winter wheat futures firming on worries about dry weather. In a crop report released after the market close on Monday, the USDA rated 58 percent of the U.S. winter wheat crop as good to excellent, down from 59 percent the previous week. Enditem