Soybean prices continued to decline after China's failure to include US soybeans on the list of products eligible for tariff relief at the US-China leaders' meeting triggered disappointment selling in the market.
Soybean futures fell as much as 3% from the previous day on 28 September, to $12.79 per bushel. Tariff reductions had been expected at the US-China leaders' meeting for products worth $30 billion, including agricultural products, but US soybeans were absent from China's list, prompting widespread disappointment selling.
Looking ahead, the focus of the US-China leaders' meeting remains whether tariff reductions will be implemented and how agricultural products will be treated. The market's response is expected to remain in focus.
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