Chicago Board of Trade (CBOT) soybean futures ended the past trading week with sharp losses, amid uncertainty over U.S.-China trade talks and a rising challenge from South American exporters, reports the Hellenic Shipping News.
CBOT traders have kept a close eye on the ongoing trade talks between the United States and China. As the uncertainty of a trade deal persists, soybeans again fell below the $9/bushel level on the last trading day of this week, the first time since Sept. 27.
Meanwhile, a firmer U.S. dollar has inevitably made U.S. soybeans less competitive at the international market.
