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Soybeans Drop on China Demand Worries

Prospects of China ramping up ag purchases are clouded by coronavirus epidemic

Soybeans3

Chicago soybean futures edged down on Thursday, falling in three out of four sessions on concerns over declining demand in China, which has been hit by the coronavirus epidemic, reports Reuters.

US corn and wheat futures also fell with a stronger dollar adding to downward pressure on prices.

Prospects of China ramping up agricultural purchases from the US under the interim trade deal have been clouded by the coronavirus epidemic.

Some US dealers remained hopeful that some demand could emerge soon with market talk of Chinese interest in sorghum and soybeans this week.

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