Grain Markets Surge on Optimism Ahead of Trump-Xi Meeting

The grain markets rose on optimism ahead of the meeting between US President Donald Trump and Chinese President Xi Jinping in Washington, DC. The December corn futures market saw solid gains, rising 15 1/2 cents to $5.43, near the daily high. This increase was fueled by general optimism about the upcoming summit and strong US export inspections.

The soybean complex markets also saw significant gains, with November soybeans gaining 24 1/2 cents to $13.28, near the daily high. December soybean meal rose $9.80 to $368.40, while December soybean oil rose 63 points to 68.85 cents, nearing the daily high.

The optimism in the grain markets was driven by reports that China was buying more US soybeans ahead of the summit meeting. This led to speculator buying interest and a bounce back in soybean meal prices after Friday's downdraft.