Wheat Climbs Nearly 2%
Wheat climbed nearly 2% toward $7.30 per bushel in mid-September, rebounding from a three-week low hit on September 18, as the latest round of US-China trade engagement fueled optimism ahead of the Trump-Xi summit. Officials from both countries, led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, met over the weekend. ...
Wheat prices surged nearly 2% to approach $7.30 per bushel in mid-September, marking a recovery from a three-week low reached on September 18. This upward movement was driven by optimism stemming from recent US-China trade talks, which took place ahead of the anticipated Trump-Xi summit. Key officials from both nations, including US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, engaged in discussions over the weekend.
Bessent characterized the talks as "very successful," while Lifeng noted they were held in a "good atmosphere." The upcoming meeting between US President Donald Trump and Chinese President Xi Jinping on September 24 in the US has captured the attention of investors, who are eagerly awaiting any indications of further commitments from China to buy US agricultural products.
The Trump administration has previously disclosed that Beijing has pledged to purchase at least $17 billion in US farm exports, in addition to a separate pledge to buy 25 million tons of US soybeans annually per year. Should China extend additional purchase commitments, these may extend to other agricultural commodities, potentially including wheat.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
