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Grains Market Pauses After Trade Deal Rally

Corn, wheat, soybeans ease after strong gains this week

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Chicago wheat, corn and soybean futures eased on Wednesday, as grain markets paused after rallying this week on demand hopes fuelled by a U.S.-Chinese trade agreement and plans by Argentina to raise grain export taxes, reports Reuters.

Grain markets were buoyed by last Friday's announcement of a first-step deal between Washington and Beijing to resolve a bitter trade dispute.

This included a Chinese commitment to expand purchases of U.S. farm products but traders remained cautious about projections by Washington that these would reach $40-$50 billion within two years against $24 billion before the trade dispute.

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