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Oilseeds: Trump and Xi truce impacts soybean market

August 26, 2020 at 10:53 AM, Der AUDITOR
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CHICAGO/HAMBURG. China and the US have agreed to push forward with the phase one deal amid soaring tensions. This has impacted US soybeans. Europe has, meanwhile, stepped up rapeseed imports.

US soybean production to fall short of expectations

US soybeans are trading higher after negotiators in China and the US agreed to push forward with the phase one deal in what may be termed a truce reached between US President Donald Trump and China's President Xi Jinping amid soaring tensions. Beijing reacted swiftly to the talks, which were held by phone on Tuesday, by purchasing 408,000 mt of US corn and 204,000 mt of US soybeans. An additional 142,500 mt of US soybeans were shipped to an unknown destination. At 1.15 million mt US soybean exports range 24.5%

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