HomeNewsChicago soybean futu...

Chicago soybean futures rise as traders await more hints about US-China trade talks

  • Source: globaltimes
  • Jan.10,2019

Chicago soybean futures rise as traders await more hints about US-China trade talks


Chicago Board of Trade (CBOT) soybean futures ended higher Wednesday, as traders are awaiting more hints about US-China trade talks. 


CBOT soybeans firmed on optimism about the US-China trade after talks between governmental representatives from the two countries lasted a day longer than scheduled. 

The most active corn contract for March delivery went up 2 cents, or 0.53 percent to close at 3.82 dollars per bushel. March wheat delivery was up 2.25 cents, or 0.43 percent to close at 5.2 dollars per bushel. March soybean delivery was up 5.5 cents, or 0.6 percent to close at 9.24 dollars per bushel. 

Wheat futures rose for 5 consecutive sessions as rising prices in rival exporting countries such as Russia stoked expectations of a pickup in demand for US shipments. 

Corn futures also went up as traders turned to short covering after their prices declined in the previous session. 

Spillover support from sharply higher crude oil prices and a weaker greenback, which makes dollar-denominated goods more attractive to buyers holding other currencies, offered further support to grains. 

As for weather forecast for agricultural crop, cold weather is hitting parts of the US states of Illinois and Indiana Wednesday morning with temperatures in the single digits in Fahrenheit degrees in some areas, according to the National Weather Service.