After the much-anticipated trade meeting between United States and Chinese trade officials and Presidents Donald Trump and Xi Jinping, the results for U.S. agriculture appear to be a mixed bag. While China did agree to reduce tariffs on a wide range of U.S. farm products noticeably absent from that list were United States soybeans, says commodity broker Greg McBride of Allendale.
November soybeans finished down 30 and ¾ cents on Monday to close at $12.88 and ¼ cents. January soybeans were down 29 and ½ cents to close at $13.03.
Even with the tariff reduction for U.S. corn and wheat, McBride says that Chinese buying interest in U.S. corn is somewhat lukewarm right now.
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