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Market speculators hold net long positon of soybean futures amid trade optimism

(Xinhua)    14:49, November 16, 2019

WASHINGTON, Nov. 15 -- Market speculators still held a net long position of soybean futures this week as China and the United States look for more progress in trade talks.

According to a report from U.S. Commodity Futures Trading Commission on Friday, the non-commercial investors, commonly treated as market speculators, held a net long position of 68,334 soybean future contracts for the week ending Nov. 12.

Good news from China-U.S. trade talks historically boost gains on the soybean market. When China and the United States seek progress in trade talks, market speculators usually maintain a net long position of soybean futures.

The soybean futures, traded at Chicago Board of Trade, are derivative financial contracts that obligate the parties to transact an underlying asset at a predetermined future date and price. The underlying asset of each contract includes 5,000 bushels of soybeans.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: He Zhuoyan, Bianji)

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