Chicago Agriculture Commodities Finished Mixed
$SOYB, $CORN, $WEAT
Chicago Board of Trade (CBOT) agriculture commodities finished mixed Monday with Soybean up 3% as US-China trade tensions eased.
The most active Corn contract for July delivery rose 0.25c, or 0.06% to settle at 4.0275 bu.
July Wheat delivery went down 11c, or 2.12% to close at 5.0725 bu.
July Soybean gained 26.75c, or 2.68% to settle at 10.2525 bu.
China is the top buyer of US Soybeans, as both countries have vowed not to launch a trade war against each other, CBOT Soybean prices spiked on the news.
The 2 countries issued a joint statement Saturday on trade consultations, saying both sides have agreed to take effective measures to substantially decrease the US trade deficit in goods with China, meaningfully increase US agriculture and energy exports, and strengthen cooperation on intellectual property protection, among others.
CBOT Soybeans’ rise of 2.68% was the biggest 1-day increase in the past 7 months, sending its price back above 10.0 bu.
Wheat futures posted double-digit losses Monday over profit-taking after a 4.17% rise at the end of last session, while Corn prices were flat to Unchanged.
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