US Soybean Futures And Concerns Over US-China Trade
Soybean Futures Show Modest Gains
Soybean futures on the Chicago Board of Trade (CBOT) increased slightly on the fourth trading day of the week. Traders attributed the rise to technical buying. However, expectations of record-high soybean production in Brazil and potential US-China trade tensions kept the gains limited.The most-active soybean futures rose 0.30% to $9,87 per bushel. Despite the modest increase, the market remains under pressure as Brazil nears the end of its planting season. Some private forecasters recently raised their production estimates, adding to the bearish forecast.
US-China Trade Tensions Add Pressure
Concerns over Chinese demand for US soybeans continue to weigh on the market. Escalating trade tensions have created uncertainty, particularly for new crop contracts. Analysts believe this uncertainty is a significant factor limiting price recovery in the soybean market.Conclusion
US soybean futures saw modest gains due to technical buying, but global production concerns and trade tensions with China kept the market subdued. Wheat prices remained strong due to adverse weather in major producing regions, while corn faced downward pressure. Traders will continue monitoring weather conditions and trade policies for further market direction.Click here to reach our trading platfrom CMBroker
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