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Soybeans Firm on China Demand

USDA announces fresh U.S. soybean sales to China

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U.S. corn futures firmed and soybeans posted their strongest advance in a month on Tuesday as rising equities and energy markets and a weakening U.S. dollar triggered short-covering in commodities battered by the coronavirus pandemic, reports Reuters.

Wheat followed corn and soy higher but reversed course amid forecasts for crop-boosting rains in rival Black Sea export regions.

Soybeans drew strength from a USDA announcement on Tuesday of fresh export sales to China, which vowed in a trade agreement to sharply increase purchases of U.S. farm products.

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