U.S. soybeans rose 1% on Thursday as China’s recent purchases of North American supplies stoked hopes for stronger-than-expected demand from the world’s largest importer.
According to Reuters, analysts said soybeans were drawing support from recent Chinese purchases.
Chinese importers signed deals to buy at least three bulk shipments of U.S. soybeans this week after prices sank to an 11-month low as part of a broad-based commodities sell-off due to the coronavirus pandemic, according to government and private sources.
