U.S. soybean prices steady amid hopes for U.S.-China trade talks
MANILA, Nov 16 (Reuters) - U.S. soybean futures steadied on
Friday after two days of gains, supported by expectations that
the United States and top soybean buyer China, now tied in a
tit-for-tat tariff war, will resume trade talks.
Corn futures were similarly little changed, while wheat was
* Soybeans for January delivery on the Chicago Board of
Trade were nearly flat at $8.88-1/4 a bushel by 0140 GMT.
* An expected meeting between U.S. President Donald Trump
and Chinese President Xi Jinping on the sidelines of a G20
summit in Argentina in two weeks has raised hopes of a thawing
in relations between the world's two largest economies.
* But China's written response to U.S. demands for trade
reforms is unlikely to trigger a breakthrough at the talks, a
senior Trump administration official told Reuters.
* U.S. oilseed processors crushed a record volume of
soybeans in October, while soyoil stocks declined for a sixth
straight month, the National Oilseed Processors Association
* Singapore-listed commodity trader Wilmar International Ltd
may invest in soybean production and processing and
transhipment of soybean concentrates in Russia's Far East.
* China's agricultural ministry said it had confirmed a new
African swine fever outbreak on a farm of 40 pigs in Yibin city,
in the southwest province of Sichuan.
* Chicago wheat gained 0.3 percent to $5.06-3/4 a
bushel and corn was flat at $3.67-1/4.
* The British pound suffered its biggest one-day loss
against the euro since October 2016 after a bout of political
turmoil fanned fears the country could crash out of the European
Union without a divorce deal. Hopes for a thaw in Sino-U.S.
trade relations boosted Asian equities.
DATA/EVENT AHEAD (GMT)
0700 Germany Wholesale price index Oct
0900 Italy Industrial orders Sep
0830 European Central Bank President Draghi speaks
1415 U.S. Industrial production Oct
(Reporting by Manolo Serapio Jr.
Editing by Joseph Radford)
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