Soybean extends rally for fifth straight session
Soybean prices rose on Monday, to extend gains for the fifth straight session, and hit a 2-week high, buoyed by Chinese import tariffs waivers for US commodities (including soy.)
Chinese buyers bought over 300,000 tonnes of oil seeds from the US, which also boosted demand on soy.
Beijing waived import tariffs for buyers of at least 1 million tons of soy, within its efforts to make a breakthrough in the trade talks with the US.
Many hope that Washington and Beijing will overcome their differences to sign the phase one trade deal ahead of mid-December, which is the date for the US tariffs hike against Beijing.
Soy futures for January delivery on (CBOT) rose 0.9% to close at $8.97 a bushel (the highest since November 22), and hit an intraday high of $9.03 and a low of $8.89.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1090
|
-0.0030
|
0.2734%
|
|
|
|
|
1.3009
|
-0.0027
|
0.2087%
|
|
|
|
Tadawul
|
8459.80
|
27.24
|
0.32%
|
|
|
|
|
18.021
|
-0.083
|
0.456%
|
|
|
|
|
58.778
|
-0.410
|
0.694%
|
|
|
|
|
65.02
|
0.40
|
0.62%
|
|
|
|
|
1556.915
|
-5.780
|
0.370%
|
|
