Soybean futures hold at 3-month peek

Soybean prices rose today to hold above the 3-month peek hit on Thursday, after the release of the US Department of Agriculture's monthly crop report in addition to hopes about the US-China trade talks.

The US Department of Agriculture (USDA) monthly crop report showed on Thursday that the size of soybeans planted areas has declined this season, which means a decline in supply.

The USDA estimated soybean production for the 2019-2020 season at 3.6 billion bushels, falling by 83 billion bushels, endings stocks also fell by 180 million to 460 million bushels.

A new round of the US-China trade talks launched yesterday in Washington, with several high-level officials from both countries in attempts to reach a trade deal.

The talks also continue today as President Trump will meet with the Chinese Vice Premier Liu He at the White House,

By 14:08 GMT, soy futures for November delivery rose by 1% to $932.5 a bushel, with a session-high of $934.5 and a low of $923.5.