By Andrew Johnson Jr.
   Of DOW JONES NEWSWIRES


  CHICAGO (Dow Jones)--Chicago Board of Trade soybean futures are poised for a
higher start, recovering from recent setbacks on solid export demand and
supportive outside market influences.

  CBOT soybean futures are seen opening 7 cents to 9 cents higher.

  Higher than expected weekly export sales, a fresh sale to China and a lack of
pressure from outside financial markets are serving as the catalysts to
generate upside movement, analysts said.

  The market has satisfied an objective of extracting premium from prices this
week on benign Midwest weather outlooks, and prices have essentially reached a
level of equilibrium, a CBOT floor analyst said.

  Consolidative action is anticipated with traders evening up a few positions
heading toward an extended holiday weekend. The absence of fresh bearish news
and strong demand will key price strength, but the potential for a record crop
is seen limiting upside movement.

  A technical analyst said first resistance for November soybeans is seen at
$9.67 1/4 and then at $9.80. First support is seen at $9.50 and then at $9.40.

  The U.S. Department of Agriculture reported total weekly soybean export sales
were a net 1.049 million metric tons for the week ended Aug. 27. Sales for
2009-10 were a net 1.108 million metric tons. The primary buyers of new crop
sales was China with 447,000 tons and unknown destinations 309,500 tons.
Analysts had forecast sales between 400,000 and 850,000 metric tons.

  Soymeal sales were a net 132,500 tons. Trade estimates ranged from 50,000 to
200,000 tons. Soyoil commitments were 23,800 metric tons. Analysts had forecast
sales between 10,000 and 40,000 tons.

  The USDA also announced private export sales of 110,000 metric tons of
soybeans for delivery to China in the 2009-10 marketing year.

  The DTN Meteorlogix weather forecast said Thursday's long range charts
suggest somewhat cooler conditions returning to the Midwest region during the
middle to late part of the 6-10 day period. Crop development will benefit from
warmer temperatures until then but may slow again when it turns cooler.

  CBOT September soyoil deliveries totaled 2,457 lots. Customer accounts at Man
Professional Clearing issued 716 lots. The house account at ADM Investor
Services stopped 41 lots, while customer accounts at Man Professional Clearing
stopped 839 lots. The last trade date assigned was Sept. 2.

  In overseas markets, soybean futures traded on the Dalian Commodity Exchange
settled higher Thursday, stimulated by a strong rebound in local equity
markets. The benchmark May 2010 soybean contract settled CNY29 higher at
CNY3,627 a metric ton.

  Crude palm oil futures on Malaysia's derivatives exchange ended lower for the
third consecutive day Thursday in speculative trade while muted demand in the
cash market also pulled prices lower, said trade participants. The benchmark
November CPO contract on the Bursa Malaysia Derivatives ended MYR27 lower at
MYR2,218 a metric ton.