Soybeans rebound, corn up

    138

    SYDNEY- US soybean futures edged higher on Monday, rebounding from a one-week low touched in the previous session, though concerns about a protracted trade war between Washington and Beijing capped gains.

    Corn edged higher, recouping much of the losses from the previous session, while wheat rose to linger near a one-week high.

    The most active soybean futures on the Chicago Board Of Trade were up 0.3 percent at $8.85-1/4 a bushel by 0133 GMT, having closed down 0.6 percent on Friday when prices hit a Sep. 20 low of $8.82 a bushel.

    Despite ticking up, fears that the US-China trade relationship could deteriorate yet further loomed over the market.

    “US moves to take this dispute into the capital sphere can only make that worse,” said Tobin Gorey, director of agricultural strategy, Commonwealth Bank of Australia.

    US President Donald Trump’s administration is considering delisting Chinese companies from US stock exchanges, three sources briefed on the plan told Reuters on Friday. – Reuters