Soybeans , wheat and corn prices increasedUpdate: 1/22/2014
Soybean prices increased the most in five weeks , as signs of rising demand for U.S. supplies to China , the consumption of soy is used in livestock feed leading . Wheat prices increased by active buying of Egypt , and corn prices to rise.
U.S. exporters sold 140,000 tons of soybeans to China delivery on 31/ 8, U.S. Department of Agriculture ( USDA ) said . Soybean exports are tested to last week , up 45 % compared with the previous year , up 59.38 million bushels , China accounted for 73 % market share , the USDA said . Soybean imports from China, the largest hog producer , rose to a record high of 7.4 million tonnes in the month 12/2013 .
" China's demand continues to increase to support higher prices ," Sterling Smith , an expert at Citigroup Global Markets Inc . Chicago said . Activity buying U.S. soybeans decline of China , and supply customers switch to cheap Brazil .
Soybean futures prices in March rose 1.2 % , to $ 12.9425 / bushel at the Chicago Commodity Exchange , the biggest increase since 9/ 12. Soybean prices fell 8.3 % in 2013 , due to forecast crop yields reached record highs in South America starting in January 1/2014 . Wheat futures prices in March rose 0.8 % , to $ 5.735 / bushel , the first increase in six sessions . Wheat in session 10/1 fell $ 5.605 / bushel , the lowest level since May 7/2010 .
On 11/1 , in a bidding round , Egypt bought 55,000 tonnes of U.S. wheat . Jordan is looking to buy 100,000 tonnes of wheat to global bids on Tuesday 15/1 .
Corn futures for delivery in March rose 0.4 % , to $ 4.345 / bushel . Corn prices rose 5 % Thursday 10/1 , after the USDA said its domestic production and reserves lower than forecast by analysts .
Vu Flax ( according Vinanet / Bloomberg )