Chicago soybean futures extended gains on Thursday as the U.S. Department of Agriculture released its monthly supply and demand numbers, and delays to some U.S. and European Union tariffs eased concerns about U.S. crop exports.
U.S. soybean futures soared by two per cent on Wednesday while corn and wheat closed higher, rallying along with crude oil CLc1 and equity markets after U.S. President Donald Trump said he would pause the tariff increases he announced last week for most countries, even as he raised them on China.
Chicago soybean futures rose on Tuesday, bouncing back from a four-month low on technical trading, while corn and soy futures also firmed as traders turned their attention toward a U.S. Department of Agriculture data release and weather concerns, analysts said.
Live and fed cattle futures on the Chicago Mercantile Exchange were weaker on Monday, continuing the downtrend that started with United States reciprocal tariffs and China’s retaliatory measures.
U.S. soybean futures sank 3.4 per cent on Friday to their lowest this year, after top importer China said it would impose additional tariffs of 34 per cent on all American goods in retaliation against duties announced by President Donald Trump.
Live and fed cattle futures on the Chicago Mercantile Exchange continued lower on Friday, as retaliatory trade action by China pressured the United States markets. China announced it will impose a 34 per cent levy on its imports from the U.S. beginning April 10.
Board of Trade soybean futures slid on Thursday amid concerns that new U.S. tariffs could trigger retaliatory measures against American exports, analysts said.
Chicago soybean futures rose on Tuesday ahead of a meeting between a coalition of oil and biofuel groups and the U.S. Environmental Protection Agency to discuss raising federal mandates for biomass diesel blending.
Live and fed cattle futures on the Chicago Mercantile Exchange were higher on Wednesday, a few hours before United States President Donald Trump unveiled his reciprocal tariff plan.