The price of soybeans climbed Tuesday after China bought more of the protein-rich beans to feed its growing population.
Soybeans for November delivery rose 3.5 cents Tuesday to finish at $17.225 per bushel.
China is buying U.S. soybeans at a rate of about 5 million metric tons per month. The U.S. Agriculture Department said Tuesday that China bought an additional 110,000 metric tons of soybeans for delivery after Sept. 1.
Global soybean supplies were critically low before the devastating drought hit crops in the Midwest. As of Sunday, about 38 percent of the U.S. soybean crop was in poor to very poor condition.
The Asian Century Report 