Chicago soybeans rise on US-China trade optimism; corn, wheat firm

Chicago soybean futures rose on Monday, buoyed by renewed optimism over U.S.-China trade talks after U.S. President Donald Trump said he believed Beijing would agree to a soybean deal. As of 0406 GMT, the most-active soybean contract on the Chicago Board of Trade (CBOT) was up 0.76% at $10.27-1/4 per bushel. “Soybean futures are up marginally on some vague comments from Trump that he thinks he will strike a deal,” said Ole Houe, director of advisory services at IKON Commodities in Sydney. “By now, most traders largely ignore these statements as the market has gotten used to the hot air with not substance.” Trade talks between the U.S. and China appeared to be back on track following weeks of fresh tariff threats and export restrictions, with Trump confirming last week that he would meet with Chinese President Xi Jinping in South Korea in two weeks. Corn rose 0.06% to $4.22-3/4 a bushel on reports of yield shortfalls that have raised doubts about the most recent government ...