CBOT Soybean Futures Ended Higher On Hopes Of A U.s.-china Trade Deal
Chicago, dec 12 (Reuters) - Chicago board of trade (CBOT) soybean futures ended higher on Thursday on renewed hopes for a U.S. -china trade deal and strong export sales data this week.
China is the world's largest soybean importer.
January soybeans ended up 4-3/4 cents at $8.98- $1/4 a bushel.
January oil ended up about 0.79 cents at 32.23 cents a pound.
Soymeal for January ended down 80 cents at $294.20 a short ton.
Grain and soybean futures, as well as crude oil and us stocks rose as Mr Trump's latest comments revived hopes of a trade deal between the us and China.
The U.S. department of agriculture's export sales report on Thursday showed U.S. soybean export sales rose a net 1,050,100 metric tons for the year ending Dec. 5, above market forecasts of 500,000 to 1.1 million tons, up 54 percent from the previous week but down 17 percent from the previous four-week average.
For the week, U.S. soybean export sales for the year 2020/2021 rose a net 125,000 tons, a market estimate of zero. U.S. soybean shipments were 1.4432 million tons, down 4% from the previous week and 13% from the previous four-week average.
U.S. soybean meal exports rose 257,600 tons in the week, as expected. U.S. soybean oil export sales rose a net 30,200 tons. Above market expectations.
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