SINGAPORE: Chicago soybeans lost more ground on Monday as conflicting statements by US and Chinese officials on talks to end the Washington-Beijing trade war weighed on prices. Corn and wheat slid for the first time in three sessions.
“There is no clarity on US-China trade talks,” said one oilseed trader in Singapore. “As of now, soybeans coming from the US to China will attract tariffs.”
The most-active soybean contract on the Chicago Board of Trade (CBOT) fell 0.5% to $10.54 a bushel, as of 0406 GMT. Corn slipped 0.7% to $4.82-1/4 a bushel and wheat dropped 0.6% to $5.41-1/2 a bushel.
On Sunday, US Treasury Secretary Scott Bessent did not back President Donald Trump’s assertion that tariff talks with China were underway, saying he did not know if the president had talked to Chinese President Xi Jinping.
Last week, the Trump administration signalled openness to de-escalating a trade war between the world’s two largest economies that has raised fears of recession. Trump said talks on tariffs were taking place with China and that he and Xi have spoken.
Yet Beijing has denied that any trade talks are occurring. News last week that China has exempted some US goods from its tariffs had allowed some hope for a de-escalation in trade tensions.
Ukrainian farmers have sown 2 million hectares of grain as of April 24, however, the sowing acreage is 17% less than at the same date in 2024, the agriculture ministry said on Friday.
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