U.S. soybean futures rise on Chinese demand hopes and traders picking up bargains

HAMBURG, October 10 (Reuters)Chicago soybean futures rose sharply on Monday on expectations of increased demand from China as the country returns to work after its Golden Week holiday, traders said.

Reports of high hog (pig) prices in China also supported and bargain buying continued after the recent drop in soybean prices.

Chicago Board of Trade’s most active soybean contract Sv1 was up 2% at $13.94-1/2 a bushel at 10:58 GMT.

(Reporting by Michael Hogan Editing by David Goodman)

((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54; Reuters Messaging: michael.hogan.thomsonreuters.com@reuters.net))

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