Soybeans rose for a third day, reaching a three-month high, on speculation that China will increase purchases of U.S. supplies to make cooking oil for a growing population and livestock feed to produce pork.
Wheat rose to a seven-week high, extending this month’s rally, on signs that speculators are unwinding bets on lower prices by buying back futures contracts.
Soybeans topped $10 a bushel for the first time since January and corn gained on speculation that China will boost imports from the U.S., the world’s largest shipper of the crops.
Wheat rose for the fourth time in five sessions on speculation that U.S. crops will be harmed by adverse weather sometime during the growing season.
Despite losses of winter crops sowing areas in 2010, the general production volumes of the harvest-2010 will stay at the sufficient level for the complete meeting of the domestic requirements of Ukraine, declared the association Ukrainian club of agrarian business.
Wheat rose the most in two months on speculation that yesterday’s plunge in prices prompted investors to unwind bets that futures would decline.
Sugar futures fell for the third time in four sessions on forecasts that output will recover in India, the world’s top consumer and second-biggest producer. Orange juice rose to a three-week high.
In 2009, agricultural enterprises of the Autonomous Republic of Crimea (Ukraine) received profit on sales of agricultural products and services at the sum of 65.8 mln UAH (8.33 mln USD), with the level of profitability of 4%, a decrease of 8.2% compared to the indices of the previous year, declared the Main department of statistics of the Autonomous Republic of Crimea.
Ukraine planted spring grains on 3.72 million hectares, or 51% of the planned total area, to April 16, the agriculture ministry reported Monday.
Cane production in Indonesia may rise 10 percent after farmers increased planting and raised productivity, potentially helping Southeast Asia’s biggest sugar buyer to reduce imports.