Soybeans Rise as Stronger Chinese Demand Depletes U.S. Reserves

Soybeans rose for the ninth straight session on speculation that Chinese imports will reduce stockpiles in the U.S., the world’s largest producer and exporter.

The U.S. sold 284,000 metric tons to China for delivery after Sept. 1, the Department of Agriculture said today. Chinese processors may have bought at least 1.2 million tons of U.S. soybeans last week, the China National Grain & Oils Information Center said. Soybean-oil futures in China, the world’s biggest consumer, surged to almost a two-year high.