Soybeans: Highest in 34 Years
November 24th, 2007Via: Bloomberg:
Soybeans surged above $11 a bushel to the highest in 34 years as China increased purchases of dwindling U.S. supplies.
U.S. exporters reported sales of 1.81 million metric tons last week, up 39 percent from the previous week and the second straight high in the year that began Sept. 1, the Department of Agriculture said today in a report. Citigroup Global Markets projected sales of 900,000 tons to 1.1 million tons. China, the biggest importer, accounted for 66 percent of last week’s total.
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