Soybeans Firm on Strong Export Sales, China Trade Optimism
USDA reports soybean, corn export sales above forecasts
U.S. soybean futures firmed on Thursday as strong weekly export sales data and hopes for progress toward a U.S.-China trade deal more than offset pressure from a crop-boosting Midwest weather forecast.
Reuters reports corn also rose as the market weighed favorable harvest weather against signs of improved demand for the grain, while wheat retreated in a profit-taking setback from the prior session’s one-month highs.
Futures rebounded from overnight lows after the U.S. Department of Agriculture reported weekly U.S. corn and soybean export sales above trade expectations.