US soybean prices rose on Wednesday to their highest since 2008 on prospects for a smaller crop in South America and continued aggressive buying of soy by China, the world's largest importer of the oilseed.
soy shrugged off the first case of mad cow disease in the United States in six years, found in a dairy cow in California, with Japan and Mexico saying they will keep importing US beef.
News of the California cow caused selling in both markets on Tuesday.soy soared for the second day in a row as forecasters continued to trim their estimates for South America's soy crop due to drought and frost.
Meanwhile China, the world's largest importer of soy, continued to buy US soybeans.
The soybean market was already up 2.2 percent for the week, posting the biggest weekly advance in three weeks.
Corn futures opened higher following news of fresh sales to China, but fell after an hour of trading on profit taking while wheat eased after early advances.
The US government on Wednesday announced a sale of 682,500 tonnes of corn and said China accounted for 38 percent of the deal.
The wheat market turned weak after rising in early due to concerns a cold snap early next week might harm some of the US crop.
At 12:04 pm CDT (1704 GMT), CBOT May soybeans were up 9-3/4 cents per bushel at $14.71, May corn was down 5-3/4 cents at $6.12-1/2 and wheat for May delivery was down 8 at $6.16-1/2.
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