Global markets for grains and oilseeds

Soybean prices in Chicago rose on Wednesday, recouping some of the previous session's losses, as Beijing's confirmation of reduced tariffs on U.S. agricultural products renewed attention to the trade truce between the countries. The rise was still restrained by the absence of major purchases of U.S. grain by China following the truce, as well as broader losses in financial markets. China will suspend retaliatory tariffs on imports from the U.S. after President Xi Jinping met with President Donald Trump last week, Beijing confirmed on Wednesday, however, U.S. soybean imports will still be subject to a 13% tariff. According to analysts, this news triggered some growth in futures, again shifting the focus to what U.S. officials called Beijing's promise to buy tens of millions of metric tons of U.S. beans, including 12 million in November and December, as part of the truce. "The news of China reducing tariffs on a number of agricultural products, along with simple technical purchases, ...