By Julie Ingwersen
CHICAGO, Jul 31 (.) – US soybean futures rose on Friday for the second session, buoyed by soybean oil futures, which were up nearly 2% on demand from the biodiesel fuel sector oil-based, operators said.
* Meanwhile, corn and wheat futures also closed higher.
* November soybeans on the Chicago exchange rose 4.25 cents Friday at $ 8.9250 per bushel. The contract increased about 1% in the month.
* December corn rose to $ 3.27 per bushel and September wheat climbed 1.25 cents to $ 5.3125 per bushel.
* Soybean was helped by monthly data from the U.S. Energy Information Administration showing that the amount of soybean oil used for biodiesel in May increased to 778 million pounds, from 672 million the previous month.
* Corn futures ended the month with a nearly 7% drop, as the improvement in the climate in the Midwest during July increased the probability of an excellent harvest in the United States, which offset the support provided by new sales of grains to China.
(Additional report by Naveen Thukral and Maytaal Angel. Edited in Spanish by Rodrigo Charme)