Soybean ends higher, recoups recent losses

Soybean futures rose in Friday's trading sessions, to wipe out the earlier losses seen at the opening of the session, as investors remained optimistic about the signing of the phase-one of the trade pact between the US and China.

However, some analysts are concerned about China compliance with the deal, through which it pledged to purchase $200 billion worth of US goods and services in two years.

President Donald Trump said the phase-one of the trade pact with China will return $250 billion to the US through Chinese purchases of its goods and services.

China revealed today that GDP grew by 6% during the fourth quarter of 2019, in accordance with forecasts.

Traders also fear the abundance of agricultural commodities in South America, especially Brazil and Argentina, amid forecasts of a robust harvest season.

Soybean March futures gained 0.5% to $9.29 per bushel, after hitting a day high of $9.33 and a low of $9.20.