Markets > Commodities

U.S. soybean futures rise on fresh export sales to China

2019-10-08 01:39

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CHICAGO, Oct. 7 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures traded higher on Monday morning, with soybean futures rising on fresh crop export sales to China.

As of 1530 GMT, the most active corn contract for December delivery was up 1.5 cents to 3.8625 U.S. dollars per bushel. December wheat was up 0.75 cent to 4.9125 dollars per bushel. November soybeans were up 1.25 cents to 9.175 dollars per bushel.

The U.S. Department of Agriculture on Monday (USDA) morning said that private exporters reported the sale of 198,000 metric tons of soybeans to China for delivery in the 2019/20 marketing year. Another sale of 240,000 metric tons of soybeans was reported for delivery to unknown destinations.

Corn futures received support from forecasts for wintry weather in western and northern stretches of the U.S. Midwest that could slow harvest.

Corn market moves are seen muted ahead of USDA monthly world agriculture supply and demand estimates report on Thursday.
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