Soybeans reached the highest level in 16 months on speculation about growing demand for supplies from the US, the biggest grower and exporter in the world. Exporters sold 280,000 metric tons of soybeans to China, while consumption of soybean oil by US producers of animal feed and vegetable oils rose last month by 16 percent to 124.9 million bushels from the previous year. January futures for soybean delivery gained $0.145 (1.2 percent) to $12.015 per bushel as of 10:35 on CBoT.
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