Soybeans climbed for a third day, extending a rebound from the lowest in more than four months, on signs of rising demand from crushers in the U.S. and sustained purchases by importers in China, the world’s largest buyer. The oilseed for January delivery rose 0.6 percent to $14.2725 a bushel on the Chicago Board of Trade at 11 a.m. in Singapore. The most-active price touched $13.925 on Nov. 13, the lowest since June 22, after U.S. Department of Agriculture raised the output estimate for the U.S. after rains helped crops recover from the country’s worst drought in half a century. Companies in the U.S. processed the most soybeans last month since January 2010, while shipments of the feed crushed from the oilseed more than doubled from a month earlier, the National Oilseed Processors Association said yesterday. U.S. exporters sold 120,000 metric tons to China and 40,000 tons of soy oil to unknown destinations, the government said yesterday. “It’s probably the growth in crush� that’s driving prices higher, Michael Creed, an agribusiness economist at National Australia Bank Ltd., said by phone from Melbourne today. Importers led by China are probably taking advantage of the recent decline in prices to secure supplies, he said. Crushing of soybeans in the U.S. rose 8.8 percent to 153.5 million bushels in October, from a year earlier, the trade group known as NOPA said. Exports of meal totaled 819,786 tons, from 379,720 tons a month earlier, it said. Corn for March delivery was little changed at $7.295 a bushel in Chicago after rising for two days. Wheat for delivery in the same month was also little changed at $8.65 a bushel. Ukraine told the World Trade Organization yesterday it has no plans to limiting wheat exports after concerns or questions were raised by countries including Japan, a WTO official said. In Russia, last year’s largest wheat shipper after the U.S. and Australia, grain exports are slowing as high domestic prices made shipments unprofitable, according to Arkady Zlochevsky, president of Russia’s Grain Union. To contact the reporter on this story: Luzi Ann Javier in Singapore at ljavier@bloomberg.net To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net

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