18/01/2012 (Agriculture.com) - Soybean futures on the Dalian Commodity Exchange rose slightly Tuesday amid a broad rally across equities and commodities, snapping a four-day losing streak, after China's gross domestic product data revealed stronger than expected economic activity in the fourth quarter.

The most actively traded September soybean contract settled 0.1% higher at CNY4,273 a metric ton.

China's GDP expanded 8.9% in the fourth quarter, slower than the previous quarter's 9.1% rise, but faster than economists' expectations for an 8.6% expansion, China's National Bureau of Statistics said Tuesday.

The data helped ease concerns over a hard landing in China, prompting investors to buy beaten-down commodities, analysts said.

Recent rain and cooler temperatures in Brazil and Argentina have eased stress on developing soybeans after a period of hot and dry weather in the world's second- and third-largest soybean producers, weather forecaster Meteorlogix said.

Soybean and edible oil prices are under pressure and may continue to retreat amid high port inventories and subdued global demand, Green Futures analyst Liu Jin said.

Palm oil stocks were 730,000 tons at end-December, more than double on year, it added.

Tuesday's settlement prices in yuan a ton for benchmark contracts:

Product     Contract  Settlement Price   Change
Soybean    Sep 2012      4,273          Up   5
Corn          Sep 2012      2,291          Up  11
Soymeal    Sep 2012      2,894          Up  16
Palm Oil     Sep 2012      7,960          Up  38
Soyoil        Sep 2012      8,926          Up  40