Nutrien beat analysts’ expectations for third-quarter profit on Wednesday, and said it would initiate a review of strategic alternatives for its phosphate business.
Chicago soybean prices rose on Wednesday, recovering some of the previous session’s losses, as Beijing’s confirmation that it was cutting tariffs on U.S. farm goods put attention back on a trade truce between the countries.
China will suspend retaliatory tariffs on U.S. imports, including duties on farm goods, after last week’s meeting of the two countries’ leaders, Beijing confirmed on Wednesday, but imports of U.S. soybeans still face a 13 per cent tariff.
Bunge Global topped Wall Street estimates for third-quarter adjusted profit on Wednesday with the closing of its acquisition of Viterra in July boosting volumes as oilseed processing margins improved, sending shares up 2.6 per cent.
U.S. soybean futures fell on Tuesday, retreating from a 16-month high hit a day earlier, as traders awaited Chinese purchases of U.S. cargoes following last week’s trade truce agreed by the world’s two largest economies.
Archer-Daniels-Midland cut its 2025 profit forecast for a third straight quarter on Tuesday as U.S. biofuel policy uncertainty and global trade disruptions pressured oilseed crush margins.
The U.S. is not yet ready to reopen its border to Mexican cattle amid an outbreak of the flesh-eating New World screwworm parasite, Agriculture Secretary Brooke Rollins said, but she is pleased with Mexico’s efforts to contain the pest.
Chicago soybean futures hit 16-month highs on Monday on expectations China will restart large-scale U.S. soy buying after the two countries reached a deal to de-escalate their trade war.
China’s most active Zhengzhou rapeseed (canola) meal futures posted their largest daily gain in nearly three months on Monday, after Canadian Prime Minister Mark Carney and Chinese President Xi Jinping met in South Korea last week without securing a breakthrough on tariffs.
U.S. soybean futures climbed to a 15-month high and posted their biggest monthly gain in nearly five years on Friday following a rally fueled by the prospect of revived exports to China.