Chicago Board of Trade soyabean futures hit one month low on Wednesday despite the signing of an initial US trade pact with China, the world's biggest soya importer, as traders focused on uncertainty about the terms of the deal and declines in soyaoil.
CBOT March soyabeans settled down 13-1/2 cents at $9.28-3/4 per bushel after dipping to $9.28-1/4, the contract's lowest level since December 16.
CBOT March soyameal ended down $1.90 at $300.10 per short ton while March soyaoil plunged 0.77 cent, more than 2%, to end at 33.30 cents per pound.
The United States and China announced a Phase 1 trade deal that will roll back some tariffs and boost Chinese purchases of US goods and services, defusing an 18-month conflict between the world's two largest economies.
Comments
Comments are closed for this article.