Chicago Board of Trade (CBOT) soyabean futures traded in positive and negative territory on Thursday as the market looked for direction amid uncertainty about the chances for Beijing and Washington to reach a trade deal soon, traders said.
Most-active January soyabeans dropped to their lowest price since Oct. 8 before ending higher. China and the United States are holding "in-depth" discussions on a first phase trade agreement and cancelling tariffs is an important condition to reaching a deal, the Chinese commerce ministry said.
Traders are closely watching news about the trade war because China is the world's largest soyabean importer and has slashed purchases from the United States since Beijing slapped hefty tariffs on imports of the US oilseed last year.
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