Soybean Futures Rebound on Signs China Is Ramping Up Purchases
A combine harvester during a soybean harvest on a farm near Gregory, Arkansas.
Photographer: Rory Doyle/BloombergSoybean futures jumped on signals that China is stepping up buying of the oilseed, offering hope for US farmers after purchases appeared to have stalled.
Prices in Chicago rose as much as 3.2% 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.