Chicago soybean prices firmed on Friday in a bargain-buying bounce after a sharp fall on Thursday, as traders assessed prospects for more U.S. sales to China after the trade war truce between the countries.
Chicago cattle futures fell on Thursday but to a lesser degree compared to Wednesday’s limit-down drop. Most-active December live cattle closed down 1.750 cents to 218.775 cents per pound. February contracts settled at 216.750 cents a pound, down 1.375 cents. Most-active January feeder contracts closed down 4.375 cents at 315.600 cents a pound. March contracts
Chicago soybean and wheat futures took a nosedive on Thursday, retreating from multi-month highs, as signs of only limited Chinese purchases from the United States tempered optimism about fresh demand following a bilateral trade truce.
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.
Chicago cattle futures fell back on Tuesday. Hogs continued to slide. Most-active December live cattle futures closed at 227.775 cents a pound, down 4.425 cents. February contracts lost 5.025 cents to settle at 225.375 cents per pound. Most-active January feeder contracts lost 7.300 cents to close at 329.225 cents a pound. March feeders settled at
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.
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.
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.
U.S. soybean futures reached a 15-month high on Thursday after President Donald Trump’s administration said top-importer China agreed to buy tens of millions of tons of American crops in the next few years as part of a trade truce.