Soybeans Rebound From Six-Week Low on Import Demand; Corn Climbs
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Soybeans rose on speculation that a slump to the lowest price in six weeks may boost demand from importers. Corn and wheat climbed.
Soybeans fell 9.4 percent since the U.S. drought spurred a jump to a record $17.89 a bushel Sept. 4, as harvesting accelerated and demand slowed. U.S. exporters sold less than a third of the soybeans in the week ended Sept. 13 than a week earlier, the government said Sept. 20. China, the world’s biggest soybean buyer, cut imports by 0.8 percent in August, compared with a year earlier, after boosting purchases 9.5 percent in July, the Beijing-based Customs General Administration said Sept. 21.