Soybeans, Corn Surge on Demand Gains as China May Expand Economy
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Soybeans and corn advanced for the first time in a week on speculation that China will ease monetary policy after the economy expanded at its slowest pace in 10 quarters, potentially boosting demand for raw materials.
China’s gross domestic product rose 8.9 percent in the fourth quarter from a year earlier, the statistics bureau said today. Analysts surveyed by Bloomberg expected 8.7 percent growth. China may ease lending curbs and increase spending to bolster the world’s second-biggest economy, boosting demand for grains and oilseeds, said Gary Mead, an analyst at VM Group.