Soy is a growth leader among US agricultural products

Time to read
less than
1 minute
Read so far

Soy is a growth leader among US agricultural products

December 03, 2018 - 11:33
Posted in:
0 comments

Soybeans in Chicago are leaders among agricultural futures in the US, which started to grow rapidly after White House and China agreed on immidiate restart of American farm products purchase, Bloomberg reports.

Photo © CC0 1.0

Soybeans in Chicago are leaders among agricultural futures in the US, which started to grow rapidly after White House and China agreed on immidiate restart of American farm products purchase, Bloomberg reports.

Soy futures gained 3,2% to $9,23 ¾ a bushel, and this is the highest level since June. Wheat and corn prices grew as well. Meanwhile, China's futures fell in expectation of supply decline. Soy at   Dalian Commodity Exchange lost 3,4% to 2953 yuan per ton.

It shall be noted that risk-appetite returned to the market as US and China Presidents agreed to postpone new tariffs and conduct additional trade negotiations. This was a breakthrough in relations between the US and the bigest consumer of the country's farm products.

Wheat price gained 1,4% to $5,22 ¾ per bushel. Corn grew by 1,1% to $3,82 per bushel.