US soybean prices rise amid expectations of renewed Chinese purchases

and Beijing could reach a deal to resolve the ongoing trade dispute that led China to halt purchases of U.S. soybeans and shift demand to South America. The American Soybean Association and the U.S. Soybean Export Council reported that no new sales of U.S. soybeans to China—the world’s largest importer—are expected in the near term, and shipments are unlikely over the coming weeks. According to traders, it remains unclear whether China will need to buy U.S. soybeans between December and February as it awaits the next harvest in Brazil. Many U.S. farmers have been storing newly harvested soybeans in bins instead of selling to grain processors due to low cash prices and the absence of Chinese demand on the U.S. market. October CIF barge bids for soybeans were about 3 cents higher at 80 cents over November Chicago Board of Trade (CBOT) futures. November barge bids stood at 82 cents over futures, also up 3 cents. FOB export premiums for October shipment were quoted around 94 cents ...