Chicago wheat quotations fell by 3.7% and soybean quotations by 2.6% despite new purchases by China.

In the American markets, pessimism regarding the state of the US economy is intensifying, prompting traders to actively lock in profits following recent growth. As a result, on November 4, futures for wheat and soybeans fell sharply by 3.7% and 2.6%, respectively, while the main stock indices dropped by 0.9–1.9% due to a reduction in the number of job openings and a decline in technology company stocks. Despite information about new purchases of American grain by China, the market remained under pressure. According to traders, China purchased 120,000 tons of American wheat, including 60,000 tons of soft wheat and 60,000 tons of hard red winter wheat. However, this did not stop the decline—Chicago December futures for SRW wheat fell by 3.7% to $196.7 per ton, negating the previous 5.7% growth at the beginning of the week. The Chinese state-owned company COFCO also held a signing ceremony for the purchase of soybeans from the US, but the details of the deal are not disclosed. ...