Chicago soybeans slipped on Wednesday on concerns about U.S.-China trade relations becoming further strained and as thoughts of frost impacting U.S. Midwest yields began to ease, traders said.
According to a report at Reuters, soybean futures faced pressure after President Donald Trump criticized Chinese policy in his address at the United Nations on Tuesday, reviving worries that China’s recent buying spree of soybeans might dry up.
Nonetheless, the U.S. Department of Agriculture said private exporters sold 581,000 tonnes of U.S. soybeans to China for delivery in the 2019/20 marketing year that began on Sept. 1.
