14-01-2014 01:58 AM | China

Soybeans rise most in five weeks on China demand

Soybeans jumped the most in five weeks on signs of higher demand for U.S. supplies from China, the world’s top consumer of the oilseed used in livestock feed. Wheat rose on Egyptian purchases, and corn gained.

U.S. exporters sold 140,000 metric tons of soybeans to China for delivery by Aug. 31, the Department of Agriculture said today in a statement. Soybeans inspected for export last week rose 45 percent from a year earlier to 59.38 million bushels, with China accounting for 73 percent, the USDA said today. Imports from all sources by China, the top hog producer, jumped to a record 7.4 million tons last month.
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