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October 23, 2019 | Reuters

Soybeans End Flat

Rising U.S. harvest pace overshadows China trade hopes

U.S. soybean futures ended flat on Wednesday as optimism that China would significantly increase U.S. export purchases after offering to waive tariffs was overshadowed by a lack of confirmed buying and an accelerating U.S. harvest, reports Reuters.

Corn was also flat on harvest pressure and limited demand, while wheat firmed in a modest rebound from two days of declines.

Beijing on Tuesday offered major Chinese and international soybean processors waivers that would exempt the companies from steep tariffs on imports of up to 10 million tonnes of U.S. soybeans, according to two people briefed on the matter.

Reuters reports that the news, however, failed to unleash a torrent of soybean buying by the world’s top soy importer.

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