U.S. wheat and soybean futures reach highest prices since Summer 2018

December 29, 2019 |

In Illinois, Reuters reports that U.S. wheat and soybean futures jumped on Friday to their highest prices since summer 2018 on expectations for increased Chinese buying as a result of an initial trade deal and that corn futures set an eight-week high. There is more optimism in wheat thanks to the scope for U.S. sales to China that will add demand and the U.S. China trade deal will lead to more soy purhases as well.

According to Reuters, “Beijing, the world’s largest soybean importer, committed to increasing purchases of U.S. farm goods as part of the trade deal, though details have yet to be announced. China has bought around 1 million tonnes of European Union wheat so far this season and could now shift to U.S. supplies under the accord.”

Category: Fuels

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