Latest news with #ChicagoBoardOfTrade
Zawya
3 hours ago
- Business
- Zawya
Soybeans rise on Trump's hopes that China will buy more US beans
CANBERRA/HAMBURG - Chicago soybean prices rose more than 2% on Monday after U.S. President Donald Trumpsaid he hoped China would quadruple its soybean buying from the United States. Wheat and corn also rose as traders expected that more Chinese purchases of U.S. farm products could be part of any eventual U.S.-China trade deal. China is the world's largest soy importer but has slashed purchases of U.S. beans as trade tensions between Washington and Beijing have flared. "China is worried about its shortage of soybeans," Trump posted on Truth Social. "I hope China will quickly quadruple its soybean orders. This is also a way of substantially reducing China's Trade Deficit with the USA." Chicago Board of Trade most active soybeans climbed 2.2% to $10.09-3/4 a bushel at 0958 GMT. CBOT wheat was up 0.6% to $5.17-3/4 a bushel and corn rose 0.6% to $4.08 a bushel. "Markets had expected increased Chinese purchases of farm products could be part of a wide U.S.-China trade deal and Trump is now saying this," one German trader said. "Corn and wheat could also be part of the U.S.-China deal." "The devil is in the details, but China is a communist, command economy. If the Chinese government decides that more U.S. soybean and grain imports should take place, this will surely happen," the trader added. All three crops still face price headwinds from plentiful global supplies. Last week, wheat fell to five-year lows, soybeans to four-month lows and corn to contract lows. Analysts expect the U.S. Department of Agriculture will raiseits U.S. corn and soybean production estimates in a report on August 12. "Where do all those soybeans go if they're not going to China?" said Tobin Gorey of agricultural consultancy Cornucopia. "Any positive news on the China front is very likely to prompt prices to rise."
Zawya
30-07-2025
- Business
- Zawya
Chicago soybeans extend losses on favourable weather, weak demand
BEIJING/PARIS - Chicago soybean futures fell for the fourth consecutive session on Wednesday, weighed down by favourable weather across the U.S. Midwest and sluggish demand, while wheat pared losses after news Bangladesh had made a large U.S. wheat purchase. The most-active soybean contract on the Chicago Board of Trade (CBOT) was down 0.05% to $10.09 per bushel at 0338 GMT. Corn was down 0.18% to $4.10 a bushel. Forecasts for cooler temperatures and periodic rainfall in the U.S. Midwest bolstered expectations for a big U.S. harvest, pressuring corn and soybean futures. Northern Hemisphere harvests and weak global demand kept wheat prices under pressure. In top soy buyer China, demand for soybeans is expected to remain subdued during the peak U.S. marketing season later this year. Record imports earlier in 2025 and soft demand from animal feed producers have led to a buildup in domestic soymeal inventories. Wheat was down 0.1% at $5.29.1/4 a bushel after falling as low as $5.26 in earlier trade. Bangladesh's government has approved the purchase of about 220,000 metric tons of wheat from the United States as part of efforts to cool trade tensions with Washington and reduce steep import tariffs imposed by the Trump administration, a Dhaka official said on Wednesday. Also on the trade front, U.S. and Chinese officials agreed to seek an extension to their 90-day tariff truce following two days of talks in Stockholm aimed at defusing a trade war between the world's two biggest economies. "The uncertainties over a U.S.-China trade deal, with the market not expecting a resolution any time soon for Chinese crushers to resume buying farm products, suggest that soybean arrivals to China will likely fall steeply in Q4 2025 and Q1 2026," said Cheang Kang Wei, vice president at StoneX in Singapore. Commodity funds were net sellers of CBOT corn, wheat, soymeal and soybean futures contracts on Tuesday and net buyers of soyoil futures, traders said. Prices at 1127 GMT Last Change Pct Move CBOT wheat 529.25 -0.50 -0.09 CBOT corn 411.25 0.25 0.06 CBOT soy 1009.25 -0.25 -0.02 Paris wheat 197.25 0.50 0.25 Paris maize 57.15 -0.39 -0.68 Paris rapeseed 458.00 -5.25 -1.13 Euro/dlr 1.15 0.00 -0.11 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per tonne.
