Soybeans up on output worries

Updated: 2012-05-02 13:28

(China Daily)

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Soybeans rose, capping a third straight monthly climb, on speculation that reduced production in South America will boost the demand for US supplies from China, the biggest consumer and importer.

US exporters sold 220,000 metric tons to China for delivery after Sept 1, the Department of Agriculture said in a statement. By April 19, China purchased 6.446 million tons for delivery during that period, up 9.1 percent from a year earlier, according to USDA data. Damage cut output in Argentina and Brazil by 11 percent this year, the agency said April 10.

China Daily - Agencies