U.S. markets rise on China buys

cargo ship

As China continues making large corn and soybean purchases from the U.S., markets reacted last week by extending an unusual harvest rally that began in mid-August.

November beans gained more than 30 cents on the week, coming close to matching highs from the previous week in the $10.80 range.

December corn futures started the week just under $3.90 per bushel and reached highs above $4 per bushel by week’s end.

On Oct. 14, the USDA announced an export sale of 420,000 metric tons of U.S. corn to China, which...

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