Commodities
US-China Trade Hopes Boost Wheat Prices Ahead of Trump-Xi Summit
Wheat prices have been on the rise, reaching nearly 2% higher toward $7.30 per bushel in mid-September.
This rebound comes after a three-week low hit on September 18, and is largely attributed to optimism surrounding the latest round of US-China trade engagement.
US Treasury Secretary Scott Bessent described the discussions as 'very successful,' while Chinese Vice Premier He Lifeng said they were held in a 'good atmosphere.'
The upcoming Trump-Xi summit on September 24 is also expected to have an impact, with investors watching for signs of additional Chinese purchases of US agricultural products.