World Agrinews

Soybeans rose the most in a week on speculation that an end to the global recession will boost demand for the oilseed to make food and animal feed. Economies will recover at various speeds, led by China and India, the Organization for Economic Cooperation and Development said. The Asian countries are the world’s biggest consumers of vegetable oil made from soybeans. U.S. payrolls in March rose the most since March 2007, signaling a rebound in the job market.

Wheat prices posted the biggest gain in almost five weeks as some hedge funds and traders unwound near-record bets on a price slump. Speculative short positions, or wagers on declining prices, more than doubled in the first quarter, Commodity Futures Trading Commission data show. So-called net-shorts were 56,716 contracts in the week ended March 30, compared with a record 60,457 on Feb. 9.

Wheat fell to a five-month low after a government report showed U.S. growers may plant more than estimated.

Soybeans rose for a fourth straight day after a U.S. government report showed export demand for the oilseed and its products increased last week.