Commodities
Soybeans Rise on Strong Chinese Demand and Crude Oil Prices
Soybean prices rose on Monday due to strong Chinese demand and higher crude oil prices. The most-active soybean contract on the Chicago Board of Trade (CBOT) increased by 0.31% to $13-1/2 a bushel by 0231 GMT.
The upward trend is partly driven by Chinese state buyers, who have stepped up purchases of US soybeans ahead of President Xi Jinping's visit to Washington later this month.
The markets are awaiting clarity on future demand from the world's top soybean importer. Soyoil prices also gained 0.57% to 70.08 cents per pound, tracking higher crude oil prices.