LINE

    Text:AAAPrint
    Economy

    U.S. weekly soybean futures end higher on U.S.-China trade hopes

    1
    2019-01-27 09:11:33Xinhua Editor : Huang Mingrui ECNS App Download

    Chicago Board of Trade (CBOT) agricultural futures closed mixed in the trading week ending Jan. 25, with soybeans rising nearly 1 percent as traders hope that the planned U.S.-China trade talks next week would bring good outcome.

    The most active contract for March soybeans was up 8.5 cents weekly, or 0.93 percent, to 9.2525 U.S. dollars per bushel. March wheat added 2.25 cents, or 0.43 percent, to 5.2 dollars per bushel. March corn went down 1.5 cents, or 0.39 percent, to 3.8025 dollars per bushel.

    China has been the world's top soybean buyer. Any positive development concerning the trade talks between the two sides will boost U.S. soybean prices.

    Due to the prolonged federal government shutdown, the U.S. Department of Agriculture (USDA) has not updated its exports sales, supply and demand reports since Dec. 22, 2018.

    Traders had to learn from other channels for statistics, with eyes on any new development concerning the ongoing U.S.-China trade talks.

    CBOT wheat futures firmed on hopes that rising prices in Russia, the world's biggest exporter, would bolster U.S. exports.

    Russian on-farm stocks as of Dec. 31 were below expectations, suggesting the USDA's domestic disappearance estimate is too low. Black Sea cash wheat prices also soared to new seasonal highs.

    Australia will export very little wheat over the next 12-13 months. And this week's flood of tender activity indicates major importers have been mostly hand-to-mouth in terms of extending supply coverage.

    CBOT corn futures ended lower on modest fund liquidation. Funds since the government shutdown have alternated between net buying and selling, leaving their position near unchanged from mid-December.

    Fundamentally, weak biofuel margins continue to battle elevated export demand. And until U.S. government data is available, the choppy trend will persist.

    Related news

    MorePhoto

    Most popular in 24h

    MoreTop news

    MoreVideo

    News
    Politics
    Business
    Society
    Culture
    Military
    Sci-tech
    Entertainment
    Sports
    Odd
    Features
    Biz
    Economy
    Travel
    Travel News
    Travel Types
    Events
    Food
    Hotel
    Bar & Club
    Architecture
    Gallery
    Photo
    CNS Photo
    Video
    Video
    Learning Chinese
    Learn About China
    Social Chinese
    Business Chinese
    Buzz Words
    Bilingual
    Resources
    ECNS Wire
    Special Coverage
    Infographics
    Voices
    LINE
    Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
    Copyright ©1999-2019 Chinanews.com. All rights reserved.
    Reproduction in whole or in part without permission is prohibited.
    主站蜘蛛池模板: 邢台市| 绿春县| 玉田县| 阿克陶县| 云和县| 郧西县| 吉林市| 周至县| 南投市| 丹阳市| 大城县| 汤阴县| 岗巴县| 泰州市| 徐汇区| 香港| 东山县| 五华县| 县级市| 白河县| 陵水| 和政县| 邢台市| 丹巴县| 邵阳市| 林州市| 保德县| 会宁县| 茂名市| 海门市| 马尔康县| 长丰县| 南川市| 鄂温| 阳西县| 长顺县| 石渠县| 崇信县| 岢岚县| 肇东市| 鱼台县|