Global grain and oilseed markets

Soybean futures on the Chicago Mercantile Exchange rose on Monday due to rising oil prices, a weakening dollar, and broad demand for agricultural products. The prospect of another record soybean crop in Brazil this season looms over the soybean market, despite traders remaining skeptical about the pace of Chinese purchases of U.S. soybeans under the bilateral trade truce. However, despite the negative fundamental factors, the year-end buying interest typical for agricultural products provided additional support to soybean futures. On the CBOT, January soybean futures closed at $10.53-1/4 per bushel, up 4 cents. CBOT March soybean meal futures rose by 80 cents, reaching $301.90 per short ton. The most actively traded March soybean oils ended trading with a gain of 0.64 cents, reaching 49.08 cents per pound. The decline in the dollar and rising oil prices contributed to the decline in soybean prices after an 8-week low. After abundant global supply and doubts about demand from China ...