Markets

Soybeans tick up, ending five days of losses

(China Daily)
Updated: 2010-05-20 10:15

SINGAPORE - Soybean futures advanced, ending the longest losing streak since January, while corn and wheat gained on concern cooler weather may delay planting in China.

Related readings:  China said to seek Brazil, US soybean oil supply  China's monthly soybean imports may climb to record

Soybeans for July delivery added as much as 0.4 percent to $9.435 a bushel on the Chicago Board of Trade and were at $9.395 a bushel at 2:52 pm in Singapore, ending five days of losses, the longest slump for the most-active contract since Jan 12. Corn rose 0.3 percent to $3.6075 a bushel and wheat gained 0.4 percent to $4.695 a bushel.

Rain and cooler conditions will slow soybean, corn and spring wheat planting progress and early development of crops in northeastern China in the three days from May 18, Telvent DTN Inc said in a forecast on Tuesday.

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