Markets > Commodities

Chicago soybean futures rise ahead of U.S.-China trade talks

2019-04-03 06:05

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CHICAGO, April 2 (Xinhua) -- Chicago Board of Trade (CBOT) soybean futures rose for second consecutive session on Tuesday, as investors turned to technical buying ahead of a new round of U.S.-China trade talks.

China and the United States are expected to hold the ninth round of high-level economic and trade talks in Washington this week.

The U.S. Department of Agriculture (USDA) on Monday confirmed 828,000 metric tons of soybeans by private exporters for delivery to China during the 2018/19 marketing year.

The USDA on Monday also reported that weekly soybean export inspections were 730,806 metric tons for the week ending March 28, in line with market forecasts that ranged from 500,000 to 900,000 metric tons.

CBOT wheat futures fell on Tuesday, pressured by a government report that showed the U.S. crop was in better-than-expected condition as it passes through key stages of development.

As for weather forecast for agricultural crop, a band of "moderate" rain is falling in central Iowa on Monday morning, while some snow is included in northern Iowa, according to the National Weather Service. Enditem

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