Soybeans Rally to 28-Month High; Corn Extends Gain; Wheat Steady
This article is for subscribers only.
Soybean futures rose to a 28-month high as demand rebounded in China, the world’s largest consumer. Corn rose, capping a fifth straight weekly gain as hot, dry weather threatened crops in Argentina. Wheat was little changed.
U.S. exporters sold 827,810 metric tons of soybeans in the week ended Dec. 16, more than nine times the total a week earlier, the Department of Agriculture said today. China purchased 77 percent of last week’s total shipments from the U.S. Sales for delivery in the marketing year that began Sept. 1 are 12 percent higher than a year earlier.