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Soybeans Rise to Two-year Peak on Increased Chinese Demand

Soybeans rose to a two-year high on speculation that China, the largest consumer of vegetable oils, will increase oilseed imports to cool food inflation.

China bought 250,000 metric tons of soybean oil from South America this week, industry website Grain.gov.cn said today. A commodities rally in China ended on concerns that government regulators may tighten trading rules to curb speculation. Food prices in the world’s most populous nation climbed 8 percent in September from a year earlier, the National Bureau of Statistics said Oct. 21.