Soybeans Rise on Increasing Demand for U.S. Crop; Wheat Gains
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Soybeans rose, heading for the first quarterly gain in a year, as surging U.S. export sales signaled steady demand from China, the world’s biggest buyer and consumer. Wheat also gained, while corn fell.
Net-export sales of soybeans more than tripled to 2.82 million metric tons in the week through Sept. 19 from a week earlier, the U.S. Department of Agriculture said yesterday. Shipments before Aug. 31 are up 16 percent from a year earlier to 25.697 million tons, a record for the date, as supplies purchased by China jumped 28 percent.