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Grain Prices Surge on US-China Truce

December 3, 2018 at 20:35 by Vladimir Vyun

Grains demonstrated big gains today thanks to the news about truce in the trade war between the United States and China. Soybean demonstrated biggest gains as China is the major importer of the US crop. But experts voiced concerns that the best window of opportunity for US exports has passed as Brazil’s harvest nears, and China buys soy from Brazil as well.

Contract for delivery of soybean in January gained 1.23% to $9.0575 per bushel as of 20:21 GMT on CBoT today. March contract for delivery of corn advanced 1.13% to $3.82 per bushel. Wheat added 1.07% to its value, trading at $5.2125 per bushel.

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