Soybeans Climb on Increased Demand From China; Wheat, Corn Drop
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Soybean futures rose the most this month on signs of improved demand from China and mounting concern that rains missed crops in the driest parts of Argentina. Corn and wheat prices fell.
U.S. exporters sold 120,000 metric tons of soybeans to China, the world’s largest buyer, the U.S. Department of Agriculture said today. Rain and thunderstorms in Argentina, the world’s largest exporter after the U.S. and Brazil, probably missed north-central and northwest Buenos Aires, forecaster Telvent DTN said in a report today.