US soybean and wheat prices up

Lead: Chicago, November 23 (Reuters) - U.S soybean and wheat prices closed higher Friday on higher than expected export sales and lower U.S corn prices due to harvest pressures in the Midwest Prices for live cattle and pigs also rose on Friday, with small volume after Thanksgiving The U.S Commodity market will open at normal times on Monday Chicago Board of trade led gains on soybeans as the USDA's Export Report on Friday showed strong demand for us soybeans exports In its weekly report, the U.S Department of Agriculture said that the net export volume of U.S soybeans last week was 1416800 tons, far higher than the estimated sales range of 500000-750000 tons by traders China, the No 1 consumer of the United States, is buying soybeans again and shipping them, but Europe and other Asian countries are also buying soybeans Soybean contracts rose to $4.54 a bushel in January, before gains reversed, weakening gains January soybean contracts closed at $4.51 * 1 / 4 / bushel, up 1 * 1 / 4 cent Analysts say farm sales will slow at the end of the harvest and will help soybeans rally in the coming weeks before new soybeans come on the market in South America next spring Animal feed processing plants in Asia and Europe are worried about mad cow disease in order to avoid using meat and bone meal as animal feed, which will increase the demand for soybeans U.S wheat support comes from export news and concerns about droughts in the U.S plains and areas where winter wheat has been planted or needs to be planted in the southeastern United States Insufficient soil moisture will reduce the number of seeds sown and hinder the development of seeds Wheat futures rose 2 cents to $2.89 a bushel in December The U.S Department of Agriculture reported that total U.S wheat exports last week were 482000 tons, 26% higher than the previous week In December, corn contracts closed down 1 / 2 cent at $2.08 * 1 / 4 / bushel after traders said they were under pressure from late harvest and the US corn export sales process was disappointing China continues to sell cheap corn to stable users in the United States, mainly South Korea, while corn sales from Argentina and Brazil also reduce the share of the U.S corn market The U.S Department of Agriculture reported that U.S corn export sales last week were only 684500 tons, 15% lower than the previous week.