Soybean futures rose for a third consecutive session in Chicago amid speculation that US president Donald Trump and China’s president Xi Jinping could meet in the coming weeks, fueling optimism over renewed agricultural trade between the world’s two largest economies. Prices were also supported by stronger Chinese GDP.
Over the weekend, Trump reiterated his intention to discuss soybean shipments to China — the world’s largest importer of the crop — which has so far refrained from any purchases from the US amid the prolonged trade war with Washington. The American leader said soybeans, alongside rare earths and fentanyl, should be at the top of the table in the negotiations.