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Soybeans climb on bargain-buying support while corn and wheat also gain

Chicago soybeans gained reaching marking their first rise in three sessions. Corn futures edged up and wheat inched higher. Soybean prices faced challenges due to favourable growing conditions in the U.S. Midwest, coupled with reduced purchases from China. Despite these headwinds, bargain-buying has provided some support to the market. China’s soybean imports rose compared to the previous year, driven by lower prices and concerns over potential trade tensions if Donald Trump returns as U.S. president. However, the country has been buying larger volumes from Brazil, leading to an oversupply amid weak animal feed demand. Read here to find out more why soybeans, corn and wheat rising here.

why soybeans, corn and wheat rising

Disclaimer:

Traders should be wary of the potential for sudden market shifts due to ongoing political and economic developments, while managing proper risk management along the way.

Publication date:

2024-08-12 09:03:54 (GMT)

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