SINGAPORE — Chicago soybean and corn futures rose for the fifth consecutive session Monday, with both markets driven higher by optimism over US-China trade ahead of talks between the two agricultural trading partners later in the day.
Wheat prices fell for the first time in four sessions.
The most-active soybean contract on the Chicago Board of Trade (CBOT) added 0.2 percent to $10.59 a bushel, having climbed to a one-week high on Friday.
Corn rose 0.6 percent to $4.45-1/4 a bushel, while wheat gave up 0.1 percent to $5.54-1/4 a bushel.
Three of US President Donald Trump’s top aides will meet with their Chinese counterparts in London on Monday for talks aimed at resolving a trade dispute between the world’s two largest economies that has kept global markets on edge.
Agricultural markets were supported last week on trade optimism after Trump and Chinese leader Xi Jinping confronted weeks of brewing trade tensions in a rare leader-to-leader call.
On the weather front, rains helped improve soil moisture in parts of the US Southern Plains and the Midwest, according to forecaster Vaisala.
