Soybeans Gain on Signs of Demand for U.S. Crop After Price Slide
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Soybeans rose for a second day in Chicago on signs of demand for U.S. supplies after prices fell for two weeks and as dry weather in Brazil and excessive rains in Argentina may hurt crops in the world’s main growing region.
Soybeans inspected at U.S. ports for export increased 6.8 percent in the week ended Nov. 8 from the prior period to 64.1 million bushels, the country’s Department of Agriculture reported yesterday. Crushing by oilseed processors probably climbed in October from a year earlier, analysts estimate.