U.S. soybean futures rise in morning trading

0 Comment(s)Print E-mail Xinhua, May 17, 2019
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CHICAGO, May 16 (Xinhua) -- Chicago Board of Trade (CBOT) soybean futures rose in morning trading on Wednesday, as short-covering is supportive to the oil seed.

As of 1530 GMT, the most active July soybean was up 5.5 cents at 8.41 dollars per bushel. July corn went up 7.5 cents at 3.77 dollars per bushel. July wheat was up 12.5 cents at 4.6125 dollars per bushel.

CBOT soybean futures firmed in the previous session, mostly on traders' short-covering, bargain buying. But concerns about U.S. soybean exports to top buyer China due to trade frictions still kept strength in check.

Investors are awaiting more information about U.S.-China trade talks, following U.S. Treasury Secretary Steven Mnuchin said on Wednesday he would likely return to China for further negotiations.

Corn futures rallied on the forecast for rain next week in the U.S. Midwest, which raised questions about whether farmers would be able to reach their acreage targets for the year. Enditem

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