Global markets for grains and oilseeds

According to traders, basis prices for soybean barges delivered to U.S. Gulf Coast terminals fell slightly on Thursday after rising on Wednesday. Traders effectively refuted rumors that China had bought American soybeans. China, the world's largest importer of soybeans, has been absent from the U.S. market due to the trade conflict with Washington and has redirected its purchases to South America. The White House announced that U.S. President Donald Trump will meet with Chinese President Xi Jinping next week. U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier He Lifeng will meet in Malaysia a few days before that. Traders were hoping for a trade agreement after American farmers pressured Trump due to the loss of their largest market. The U.S. Department of Agriculture did not publish daily and weekly export sales reports due to the federal government shutdown. This meant that traders did not receive official confirmation of large sales, even if they occurred. ...