Chicago Board of Trade soybean futures turned lower on Tuesday on profit-taking after the benchmark contract touched a one-month high in early moves, while market players continued to monitor U.S.-China trade relations, analysts said.
Chicago Board of Trade soybean futures hit their highest level in a month on Monday on renewed optimism over U.S.-China trade talks after U.S. President Donald Trump said he believed Beijing would agree to a soybean trade deal and will buy U.S. soy again.
While demand and activity is slowly ramping up for the fall cattle run, feed grain prices are currently in decline, said a Lethbridge, Alta.-based trader.
Chicago Board of Trade wheat futures ended higher on Tuesday after falling to a five-year low on abundant global supplies. Corn also higher, while soybeans end down.
Chicago | Reuters — U.S. soybean futures rose for a second straight day on Wednesday on expectations that U.S. harvest yields will be lower than the latest government forecast and on limited sales by farmers awaiting news from U.S.-China trade talks and details of government aid. Corn followed soybeans higher as an expected yield forecast […] Read more
Corn and soybean futures at the Chicago Board of Trade were showing some strength during the first week of October, despite seasonal harvest pressure keeping a lid on the upside.
Corn production in Mexico is to improve to 25 million tonnes in 2025/26, while the country’s wheat crop is to recede a little, said the United States Department of Agriculture attaché in Mexico City.