Markets across the spectrum surged as trading got going around the world following the end of an eventful G20 summit over the weekend. News that China and the U.S. agreed to stop escalating their trade war and start talking sent soybean prices sharply higher, though it remains unclear just how much China could buy before world markets are swamped by a huge Brazilian crop. The U.S. normally dominates Chinese soybean imports from December through February, so there is room for improvement after China accounted for just 3% of U.S. commitments in the first quarter of the marketing year.
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Bryce Knorr first joined Farm Futures Magazine in 1987. In addition to analyzing and writing about the commodity markets, he is a former futures introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports. Besides the Morning Call on www.FarmFutures.com he writes weekly reviews for corn, soybeans, and wheat that include selling price targets, charts and seasonal trends. His other weekly reviews on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.