Commodities
US Crop Prices Slump Ahead of Trump-Xi Summit
Crop prices are slumping ahead of President Donald Trump's summit with Chinese counterpart Xi Jinping. Corn and soybeans, two major commodities, have been particularly affected by the lack of sales to China this week.
Chicago corn has eased by as much as 1.7%, giving back some gains from earlier in the week when optimism about sales to China was high. Meanwhile, soybeans have also fallen despite China releasing supplies from domestic reserves to make room for incoming cargoes.
The wheat market is also feeling pressure, with prices sliding by as much as 2.1% to their lowest level since August 26 due to better rainfall for US planting.