Trade hopes support U.S. soybeans

Source: Xinhua| 2019-01-01 01:04:41|Editor: huaxia
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CHICAGO, Dec. 31 (Xinhua) -- Chicago Board of Trade (CBOT) soybean futures traded higher Monday morning amid trade optimism but pulled back later over profit-taking.

During their latest telephone conversation, the Chinese and U.S. heads of state stressed the progress made so far in trade talks while voicing hope for further results that can bring benefits to both sides and the world.

As soybeans have been in the front line in the trade dispute between the two countries, the bullish news boosted CBOT soybean prices. At 1230 GMT, the most active March soybeans were up 6 cents per bushel.

However, climbing soybeans later reversed the upturn as traders opted to lock in profits. As of 1621 GMT, March soybeans were down 2 cents at 8.8075 dollars per bushel. March wheat was down 8 cents at 5.0375 dollars per bushel. March corn was down 2.5 cents at 3.73 dollars per bushel. Enditem