Soybeans reach three-month high
Tuesday, 27 April 2010
NEW YORK, April 26 (Bloomberg): Soybeans rose to a three-month high on speculation that cold weather may curb planting in China, boosting demand from the world's largest consumer.
Soybeans for July delivery gained as much as 1 per cent to $10.20 a bushel, the highest price for the most-active contract on the Chicago Board of Trade since Jan. 11. Soybeans traded at $10.1675 a bushel at 11 a.m. London time.
Twenty-four out of 34 traders and analysts surveyed on April 23 said soybeans will gain this week as cold, wet weather in China hurt production, boosting demand for supplies from the US, the world's largest exporter. Northeast China will have cold weather during the seven days from April 23, Telvent DTN Inc. said in a report released that day.
Soybeans for July delivery gained as much as 1 per cent to $10.20 a bushel, the highest price for the most-active contract on the Chicago Board of Trade since Jan. 11. Soybeans traded at $10.1675 a bushel at 11 a.m. London time.
Twenty-four out of 34 traders and analysts surveyed on April 23 said soybeans will gain this week as cold, wet weather in China hurt production, boosting demand for supplies from the US, the world's largest exporter. Northeast China will have cold weather during the seven days from April 23, Telvent DTN Inc. said in a report released that day.