Chicago soybean futures edged higher on Wednesday as U.S. Vice President Kamala Harris' lead over Republican challenger Donald Trump in some election polls calmed concerns that a trade war with China could heat up, according to analysts.
U.S. soybean export premiums are at their highest in 14 months, as grain merchants race to ship out a record-large U.S. harvest ahead of the U.S. presidential election and fears of renewed trade tensions with top importer China, traders and analysts said.
Dockworkers on the U.S. East Coast and Gulf Coast began a strike early on Tuesday, their first large-scale stoppage in nearly 50 years, halting the flow of about half the nation's ocean shipping after negotiations for a new labour contract broke down over wages.
Republican presidential candidate Donald Trump said on Monday he would slap a 200 per cent tariff on John Deere's imports into the United States if the agricultural equipment company moved production to Mexico as planned.
Importers and exporters around the world are uneasily analyzing what a 10 per cent tariff, or other border measures likely in a second Donald Trump U.S. presidential term, could mean for trade.