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Soybeans Hit 10-Day High on Chinese Purchases

Gains were capped by demand worries due to coronavirus pandemic

US soybeans scaled a 10-day peak on Monday on Chinese purchases of North American supplies, although gains were capped by demand worries due to the coronavirus pandemic, reports Successful Farming.

The U.S. Department of Agriculture said that unknown buyers booked deals for 110,000 tonnes of U.S. soybeans. On Thursday, two trade sources with knowledge of the deal said that exporters sold soybeans to China.

The spread of the coronavirus in South America has stoked worries about shipments of soymeal.

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