A second trader with direct knowledge of the deals said Chinese state-owned firms bought at least 12 cargoes for shipment between January and March. "China was buying right out of the gate this morning. The most actively traded January contract climbed as high as $9.28 per bushel as traders cautiously cheered the purchases. But this year, it has relied on Argentina and top exporter Brazil for most of its soybeans used to feed the world's largest pig herd. "The Chinese evidently want the beans quickly as they have not been able to cover all their needs in South America," the European trader said.

Source: Egypt Today December 12, 2018 18:33 UTC