Soybeans Rise on Signs Demand Improving; Corn Gains; Wheat Falls
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Soybean futures gained the most in a week after an industry report showed increased demand from makers of animal feed and cooking oil. Corn rose for a second day, while wheat declined.
Processors in October used 153.536 million bushels of soybeans, up 8.8 percent from a year earlier and the most since January 2010, the National Oilseed Processors Association said today. Exports of animal feed doubled from a year earlier, the trade group said. The U.S. Department of Agriculture reported sales of 120,000 metric tons of soybeans to China and 40,000 tons of soybean oil to unknown destinations.