Soybeans Climb on Trade Talk Hopes & Weak Dollar, But Oversupply Risks Linger
Chicago soybean futures gained ground Wednesday, supported by a weakening U.S. dollar and reports that China might reopen trade negotiations with the U.S. However, market optimism was tempered by record South American harvests and China’s ongoing tariffs on American beans, which have crushed export demand. The most-active CBOT soybean contract Sv1 rose 2.75 cents to 10.38¾perbushel∗∗,while∗∗Julycorn∗Cv1∗added2.25centsto10.38¾perbushel∗∗,while∗∗Julycorn∗Cv1∗added2.25centsto4.91¾ and July wheat Wv1 gained 5 cents […]