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Soybean Market Slips on Weather, Chinese Buying Concerns

Trump criticism of China fuels trade war uncertainty

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Chicago soybeans slipped on Wednesday on concerns about U.S.-China trade relations becoming further strained and as thoughts of frost impacting U.S. Midwest yields began to ease, traders said.

According to a report at Reuters, soybean futures faced pressure after President Donald Trump criticized Chinese policy in his address at the United Nations on Tuesday, reviving worries that Chinaโ€™s recent buying spree of soybeans might dry up.

Nonetheless, the U.S. Department of Agriculture said private exporters sold 581,000 tonnes of U.S. soybeans to China for delivery in the 2019/20 marketing year that began on Sept. 1.

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