CBOT soybeans, corn edge up on export, feed demand outlook

Source: Xinhua| 2019-11-15 06:51:54|Editor: huaxia
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CHICAGO, Nov.14 (Xinhua) -- Chicago Board of Trade (CBOT) soybean and corn futures rose moderately on Thursday over fresh export sales to China and potentially rising feed demand.

The most active corn contract for December delivery was up 0.5 cent, or 0.13 percent to settle at 3.7575 dollars per bushel. January soybeans rose 1.5 cents, or 0.16 percent to 9.1675 dollars per bushel. December wheat was down 1.25 cents, or 0.25 percent to 5.0775 dollars per bushel.

Private U.S. exporters reported export sales of 129,000 metric tons of soybeans for delivery to China during the 2019/20 marketing year, the U.S. Department of Agriculture confirmed on Thursday.

The fresh export sales to the world's top oil seed buyer obviously gave some support to CBOT soybean futures.

CBOT corn futures also edged up after China lifted restrictions on the import of poultry products from the United States.

China banned the import of poultry and related products from the United States after some avian influenza outbreaks occurred in the U.S. in 2013 and 2014.

The latest development could potentially push up U.S. feed demand, thus supported CBOT corn prices, said market watchers. Enditem