Soybean futures rose as US President Donald Trump said high threatened tariffs with China were not viable, sparking optimism that the world’s largest economies will move toward a trade deal.
Soybean futures have been treading water in recent weeks as China has yet to purchase a single shipment of US crops from the harvest currently wrapping up. Trump is expected to meet with Chinese counterpart Xi Jinping later this month on the sidelines of the Asia-Pacific Economic Cooperation summit in South Korea.