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Recent News:
  • Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.    Fri, May 10 05:00 AM  Crude oil futures drop as dollar's strength grows:  The emboldened U.S. dollar pulled down West Texas Intermediate crude oil futures on Friday, as the world's reserve currency pushed to its top level in more than 14 days, according to Bloomberg.  Read more.    Fri, May 10 04:33 AM  Loonie dives after release of weak labor report:  The Canadian dollar on Friday dropped to its week-low against the U.S. dollar after the nation released underwhelming job-creation data, Bloomberg reports.  Read more.    Fri, May 10 02:17 AM  Aussie's losses increasingly causing concern:  Friday saw the Australian dollar dive toward parity with the world's reserve currency for the first time since the beginning of the second half of last year as concerns about Australia's economy were gaining momentum, according to Bloomberg.  Read more.   
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Soybeans gain as demand strengthens

Oct 24, 2012 12:50 PM

Prospects of stronger demand in the U.S. pushed soybean futures to their highest price in 14 days on Wednesday, Bloomberg reports.

As the top grower of the legume, the U.S. sold roughly 105,000 metric tons prior to August 31, according to the U.S. Department of Agriculture. Imports to China, the globe's top consumer of soybeans, surged 20 percent last month as compared to the same period last year. U.S. exports increased nearly four-times as high as one year prior.

"Export business continues to be very good for soybeans," agribusiness director Greg Grow with Archer Financial Services in Chicago told the news source. "There appears to be no slowdown in Chinese demand."

At 12:44 p.m. on Wednesday, soybean futures increased 0.71 percent, an 11-cent lift to $15.6675 per bushel.

But Reuters reports the legume's gains were tempered by anticipations of a softer South American harvest. Early next year the soybean harvest is likely to encounter pressure. But, in the meantime the crop is coping with slow sales by farmers and a harvest from this year that is running low.

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