SYDNEY: U.S. soybeans climbed 1 percent on Monday to hit their highest in nearly two weeks, as a deal to end a series of trade disputes between Washington and Beijing appeared to be edging closer.
FUNDAMENTALS
* The most active soybean futures on the Chicago Board of Trade were up 1 percent at $9.19-3/4 a bushel by 0116 GMT. They earlier marked their highest since Feb. 13 at $9.20 a bushel.
* The most active corn futures were up 0.8 percent at $3.78-1/2 a bushel, having closed down 0.1 percent in the previous session.
* The most active wheat futures were up 0.4 percent at $4.93-3/4 a bushel, after ending Friday up 0.2 percent.
* President Donald Trump said on Sunday he would delay an increase in U.S. tariffs on Chinese goods thanks to "productive" trade talks and that he and Chinese President Xi Jinping would meet to seal a deal if progress continued.
* China committed to buy an additional 10 million tonnes of U.S. soybeans in a meeting in the Oval Office on Friday, U.S. Agriculture Secretary Sonny Perdue said on Twitter.
MARKET NEWS
* The euro got off to an unusually quiet start in Asia on Monday, having posted its worst weekly performance in three months, as investors await more developments and ratings downgrades from Europe.
* Oil prices rose on Monday on the hopes for a Sino-U.S. trade deal, dampening fears over the outlook for global economic growth.
* A rally in U.S. stocks fizzled, leaving major indexes with modest gains on Friday, as Wall Street was torn between hope that U.S. economic data signals better times ahead and fear Europe's debt crisis will engulf world economies.
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