Soybeans climbed to the highest in more than 11 months in Chicago on speculation that demand for livestock feed will increase in China, the biggest consumer of the oilseed. Corn also gained, while wheat fell.
Dalian Commodity Exchange plans to introduce coke futures this year and is studying plans for coking coal contracts as consumption for the raw materials rises in China, the world’s biggest steelmaker .
Iron ore futures in China, the biggest buyer of the steel-making commodity, fell the most in more than a month after a report that banks will raise the cost of financing for purchasing the raw material.
The London Metal Exchange is attracting a growing crowd to its Asian gala dinner this year, with about 60 percent more attendees. The biggest metals bourse is finding it harder to replicate those gains in trading in the region.
A planned auction to sell soybeans by China, the world’s biggest user, may draw limited interest from domestic crushers because prices are not competitive against imports, a Beijing-based researcher said.