Most commodities in the Chinese market are trading higher today. Especially agricultural products.
Rapeseed meal, soybean meal and soybeans all hit their upper limits in Tuesday's early trade. Analysts say the strong growth is due to lower than expected US soybean stocks data.
Meanwhile, other major soybean producers, such as Argentina and Brazil, are going to produce less soybeans. The USDA projects that soybean production in the U.S. and South America countries will be tight over the next two years while global demand continues to rise.