Chicago Board of Trade corn futures rose more than 4% on Friday and the spot December contract reached a two-month high on expectations that US-China trade talks would lead to a partial trade deal involving sales of US agricultural products, traders said. CBOT December corn settled up 17-1/2 cents at $3.97-3/4 per bushel after reaching $3.98-3/4, its highest since Aug. 12.
President Donald Trump and other US officials signalled good news was coming in trade talks with China, while Beijing indicated it was open to a "partial" deal that would avoid a planned hike in tariffs on its goods. Officials, including US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He, ended a second day of talks in Washington on Friday. Liu is scheduled to meet Trump at the White House at 2:45 p.m. EDT (1845 GMT), according to the White House public schedule.
Comments
Comments are closed.