U.S. soybeans gained for a fourth consecutive session on Monday as fears that the coronavirus outbreak will curtail Chinese demand for North American stocks eased, reports Reuters.
Chinese President Xi Jinping told U.S. President Donald Trump that China would still meet its Phase 1 trade deal purchasing targets despite delays linked to the coronavirus, White House adviser Larry Kudlow told Bloomberg Television.
Still, a lack of significant Chinese purchases of U.S. soybeans since the Phase 1 trade agreement signed by Beijing and Washington last month and the prospect of stiff competition from an expected bumper Brazilian soy harvest kept U.S. traders cautious.
