The grain markets rallied early Monday as bulls are encouraged by reports of fresh China purchases of U.S. soybeans and by positive comments from U.S. and Chinese officials ahead of the late-week summit between Presidents Donald Trump and Xi Jinping. Wheat markets got further support from the Russia-Ukraine war still running hot, which is disrupting grain shipments out of the Black Sea region.
China bought more U.S. soybeans ahead of the Trump-Xi meeting, a sign of further progress toward Beijing’s pledge to boost purchases of American farm goods, Bloomberg reported overnight.
