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Soybeans Rally on Signs of Steady Demand

November 15, 2012 at 4:05 by Vladimir Vyun

Soybeans rose on growing demand from US crushers. The National Oilseed Processors Association reported that crushers processed the biggest amount of the grain since January 2010. Demand was supported by exports to China. The government data showed that US exporters sold 120,000 metric tons to the Asian country.

Gains of the agricultural commodity were limited by the poor data from Europe. Eurozone industrial production fell 2.5 percent in October and today’s reports are expected to show that economic growth in France and Germany stalled. On the positive note, the US Federal Reserve hinted that additional stimulating measures may be appropriate, boosting investors’ willingness to risk and buy raw materials.

Soybeans rose $0.0425 (0.3 percent) to $14.2325 per bushel as of 4:00 GMT on CBoT today.

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