On the CBoT, soybean futures prices rise to more than 1.7%, ending this week with the biggest gain in two months. The first step of a trade deal between Washington and Beijing is close to being agreed.
The White House in Washington has agreed to remove some import tariffs on Chinese goods, while only partially eliminating them for other products. It is now assumed that more US agricultural products can be sold to China in 2020. This de-escalates the protectionist trade war between the world's two largest economies.
Now the additional tariffs on Chinese goods worth USD 160 billion threatened by Donald Trump for 15 December will no longer take effect.
In return, China ordered USD 50 billion worth of US agricultural goods for delivery in 2020. This is twice the amount as in 2017 before the dispute broke out.
Source
HANSA Terminhandel
