Chicago soybean futures fall despite US-China trade talks

0 Comment(s)Print E-mail Xinhua, January 9, 2019
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Chicago Board of Trade (CBOT) soybean futures closed lower on Tuesday, though traders hoped that trade talks between Beijing and Washington would help with more U.S. soybeans purchases by China.

CBOT soybean futures were uplifted last week by official confirmation that China and the United States would hold trade consultations. Traders turned to technical selling of soybeans on Tuesday while awaiting more hints from the trade talks.

The most active corn contract for March delivery went down 2.25 cents, or 0.59 percent, to close at 3.8 dollars per bushel. March wheat delivery was up 1 cent, or 0.19 percent, to close at 5.1775 dollars per bushel. March soybean delivery was down 5.75 cents, or 0.62 percent, to close at 9.185 dollars per bushel.

CBOT corn futures edged lower after hitting three-week highs earlier in the day, as there is lack of fresh news to support corn prices. Wheat futures rose on hopes for a pickup in export demand amid higher prices in rival exporting countries.

As for weather forecast for agricultural crop, a wind advisory is in effect across much of the central U.S. on Tuesday, stretching from the U.S.-Canadian border in North Dakota southeast into central Ohio, according to the National Weather Service. 

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