DJ U.S. Soybeans Stay Higher on Export Sales, Tight Supplies
Feb 28, 2013 (Dow Jones Commodities News via Comtex) --
CHICAGO--U.S. soybean futures stayed higher as trading ended Thursday, boosted by new signs of strong export demand amid tight supplies.
The U.S. Department of Agriculture on Thursday reported fresh sales of 123,000 metric tons of soybeans to China for the 2013-14 marketing year, which starts Sept. 1.
The USDA also reported net export sales of 1.171 million metric tons of soybeans made in the week through Feb. 21. That beat analysts' expectations of between 525,000 and 925,000 tons.
Corn futures rose on concerns about tight current supplies. Wheat futures rose on hopes for improved U.S. export demand, amid an uptick in world export business for the grain.
With prices yet to settle, Chicago Board of Trade March soybeans were up 15 1/2 cents or 1.1% at $14.73 a bushel. March corn was up 11 3/4 cents or 1.7% at $7.21 1/4 a bushel. CBOT March wheat was up 3 3/4 cents or 0.5% at $7.08 a bushel.
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