Soybeans Gain a Second Day as Price Drop May Boost Import Demand
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Soybeans rose for second day in Chicago on speculation import demand may strengthen after prices fell from a record.
Soybeans have dropped 14 percent from the all-time high of $17.89 a bushel on Sept. 4. Global exports will climb 4.1 percent to a record 93.7 million metric tons in 2012-13, the U.S. Department of Agriculture forecasts. China bought 110,000 tons from U.S. exporters and another 180,000 tons, the USDA said on Sept. 27 and Sept. 28.