Chinese, US soybean market participants remain skeptical about US-China talks

Chinese and US soybean complex market participants continued to closely monitor the developments of trade negotiations between the US and China, withtrade sources expressing skepticism and mixed opinions about it on Oct. 17. “I’m leaning toward pessimism. China is unlikely to take the initiative to ease tensions, as it emphasizes reciprocity, believing China will maintain a firm stance in negotiations, while the US is balancing its intentions to reach an agreement with China while keeping China in check. Resulting in both sides having different dilemmas,” a soybean trader based in China said, suggesting that there could be ongoing back-and-forth in the process. Other trade sources based in China also expressed similar sentiments, with one of the buyers citing that they were “not holding high hopes.” In the US, President Donald Trump said on Oct. 17 during a TV interview that the tariffs on China were “not sustainable,” and that he still plans to meet Chinese President Xi Jinping ...