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Soy Prices Fall on China Demand Doubts

Wheat slips after rally, corn extends recent decline

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Chicago soybean futures fell on Thursday, dropping to their lowest in almost a month, weighed down by growing scepticism about whether China will make the purchases from the United States promised in a trade deal between the two countries, reports Reuters.

Corn and wheat prices were also lower.

“This (weakness in soybean prices) is because there is considerable skepticism about whether China will in fact buy the quantities of U.S. agriculturals that it has promised to in the trade agreement,” Commerzbank said in a market note.

China’s pledge to buy U.S. farm goods based on “market conditions” during the deal signing ceremony, however, added to doubts with about the size of any future purchases.

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