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US soybean futures rebound on signs China is ramping up purchases (www.scmp.com)

submitted 3 months ago by rss@news.abolish.capital to c/china@news.abolish.capital

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Soybean futures jumped on signals that China is stepping up its buying of oilseed, offering hope for US farmers after purchases appeared to have stalled. Prices in Chicago rose as much as 3.2 per cent on Monday, hitting a fresh 17-month high, after US President Donald Trump said China is in the process of buying soybeans. “They’ll be doing a lot of soybean purchases,” he told reporters aboard Air Force One on Friday, adding that those purchases could start before spring. Brokerage AgResource Co...

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