GRAINS-Corn hits lifetime highs on declining condition ratings, yield expectations
CORN•Soybeans rise on continued Chinese demand
Soybeans ticked higher on persistent Chinese demand for U.S. soybeans. However, some industry players raised concerns that newly unveiled U.S. sanctions against Iran's trade partners could impact Chinese firms and risk provoking retaliation from the global superpower and biggest buyer of U.S. soybeans.
CBOT soybeans Sv1 settled 13-1/2 cents higher to $12.37-3/4 per bushel.
"China demand is keeping beans going here," said Randy Place, an analyst at Hightower Report.
Oil prices fell for a second day as investors viewed new U.S. sanctions against Iran as posing less risk to supplies than military escalation.O/R
Soybeans, which are processed for biofuel, are sensitive to oil fluctuations.
