U.S. soybeans continue to surge amid trade optimism, adverse weather

0 Comment(s)Print E-mail Xinhua, January 19, 2019
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CHICAGO, Jan. 18 (Xinhua) -- Chicago Board of Trade (CBOT) soybean futures continued to rise sharply on Friday morning over China trade optimism and dry weather conditions in Brazil.

As of 1619 GMT, soybeans for March delivery were up 8.75 cents to 9.165 U.S. dollars per bushel. March wheat was up 0.75 cent at 5.185 dollars per bushel. March corn was up 1.75 cents at 3.8175 dollars per bushel.

Soybeans' rally was triggered on Thursday by the Wall Street Journal report that the United States is considering lifting tariffs imposed on China in a bid to hasten a trade deal between the world's two largest economies. The news prompted expectations among CBOT traders for better soybean exports performance.

Concerns over dry weather conditions in many parts of Brazil, another leading oil seed grower in the world, remained to be a supportive factor for CBOT soybean prices, said market watchers. Enditem

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