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Soybeans Firm on Strong Export Sales, China Trade Optimism

USDA reports soybean, corn export sales above forecasts

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U.S. soybean futures firmed on Thursday as strong weekly export sales data and hopes for progress toward a U.S.-China trade deal more than offset pressure from a crop-boosting Midwest weather forecast.

Reuters reports corn also rose as the market weighed favorable harvest weather against signs of improved demand for the grain, while wheat retreated in a profit-taking setback from the prior session’s one-month highs.

Futures rebounded from overnight lows after the U.S. Department of Agriculture reported weekly U.S. corn and soybean export sales above trade expectations.

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