Trade today in the soybean market will be closely watching the U.S./China relationship, as Trump discusses China’s treatment of Hong Kong. The market is waiting for more sales, Kevin Stockard of CHS Hedging said, as prices went back to the middle of recent ranges.
Global Commodity Analytics’ Mike Zuzolo said the impact of any word from President Trump will depend on timing. “Will it be before the market closes?” Zuzolo said. “And therefore, can we gauge whether or not the lead-month soybeans close below $8.40 on a monthly close?”