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Soybeans Hit 7-Month High on Chinese Demand

Private exporters reported sale of 400,000 tonnes of soybeans to China Wednesday

Soybeans row

Chicago soybeans rose to a seven-month high on Thursday, gaining for a fourth consecutive session, supported by strong Chinese demand and dry weather in parts of the U.S. Midwest, reports Reuters.

China, by far the world’s biggest soybean importer, has stepped up purchases of U.S. beans and talks between senior officials of the two countries have raised expectations of more buying.

Private exporters reported the sale of 400,000 tonnes of soybeans to China for delivery in the 2020/21 marketing year, the U.S. Agriculture Department said Wednesday.

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