Soybeans rise on hopes of trade deal

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    SINGAPORE- Chicago soybean futures rose for a third consecutive session on hopes that a trade deal between Washington and Beijing could be signed soon following a report of “constructive talks” between them over the weekend.

    Wheat edged higher on bargain-buying following three sessions of decline, although gains were limited by abundant world supplies.

    The most-active soybean contract on the Chicago Board Of Trade was up 0.3 percent at $9.20-3/4 a bushel, having firmed 0.2 percent on Friday.

    Wheat added 0.1 percent to $5.03-1/4 a bushel, having closed down 1 percent on Friday, while corn was unchanged at $3.71-1/4 a bushel, having lost 1.2 percent in the last session.

    Positive comments on trade from officials in Washington and Beijing have raised hopes of a trade deal.

    Chinese state media said the two sides had “constructive talks” on trade in a high-level phone call on Saturday that included Vice Premier Liu He, US trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. – Reuters