US Soybean Futures Rise Ahead of Key Trade Talks Announcement

Soybean futures on the Chicago Board of Trade closed higher in their front months on Friday, but there were small losses in the more deferred contracts.

The market is holding its breath for Monday's announcement from the White House regarding trade talks between Chinese President Xi Jinping and US President Donald Trump. There's speculation that China will make new agricultural purchases following the announcement.

Corn futures also rose slightly on Friday, mirroring the soybean trend.

The slow pace of the US soybean harvest has led to a scramble for supplies among crushers, who are offering premiums to secure more beans. This is particularly concerning given that only 6.1 million acres of winter grains had been seeded by September 18th, marking the slowest planting pace in 13 years.

The weather forecast remains dry in the US Plains, with one to four inches of rain expected over the next seven days. Wheat futures declined on Friday due to an ongoing selloff, while Egypt, Turkey, and India are discussing safe shipments in the Black Sea amid concerns about logistics.