Chicago soybean futures gain on higher oil prices

Business Recorder

Chicago soybean futures gain on higher oil prices

BEIJING: Chicago soybean futures rose on Wednesday, rebounding from a four-month low hit in the previous session, tracking higher crude oil prices. The most-active soybean contract on the Chicago Board of Trade (CBOT) rose 0.3% to $11.16-3/4 a bushel by 0610 GMT, while wheat gained 0.8% to $5.89-3/4 a bushel. Corn dropped 0.3% to $4.20-3/4 a bushel. Soybeans futures sometimes track crude oil prices, which climbed from a seven-week low, as higher energy prices lift demand for biofuel feedstocks....

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