Soybeans rise as Trump says more China sales coming

Chicago soybeans rose on Monday after U.S. President Donald Trump predicted more Chinese buying of U.S. soybeans following the trade war truce between the two countries. Corn and wheat rose on bargain-buying after Friday’s falls as dealers focused on reduced corn crop estimates from the U.S. Department of Agriculture (USDA). Chicago Board of Trade most-active soybeans rose 1% to $11.35-3/4 a bushel at 1219 GMT. Corn climbed 0.2% to $4.31-1/2 a bushel, and wheat rose 1.2% to $5.48-1/4 a bushel. Dealers await more Chinese purchases of U.S. soybeans after the trade truce, with only modest buying so far. Trump said on Friday that China would buy U.S. soybeans and other farm products and that Washington and Beijing had held talks on the subject. “Soybeans are rising because of the comments by President Trump late on Friday saying China will buy more soybeans from the U.S.” said Matt Ammermann, commodity risk manager at StoneX. “But today’s rise is modest, the market needs more details ...