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Soybeans Hit One-Month High on Chinese Buying

USDA reports sale of another 120,000 tonnes of soybeans to unknown destinations

U.S. soybean futures rose for a third consecutive session on Monday as Chinese demand pushed prices to a near one-month high, reports Reuters.

China may increase agricultural buying to fulfill commitments laid out in January under the Phase 1 trade deal with the United States.

The U.S. Department of Agriculture said on Friday that private exporters reported the sale of another 120,000 tonnes of soybeans to unknown destinations for delivery in the 2019/20 marketing year.

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