- leaves marginal lending, deposit facility unchanged at 1.5% and 0.0% respectively
- euro doesn’t react with EURUSD steady at 1.3032
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China Premier Li urges fairer global trade rules, warns protectionism harms world economy Li’s pledge to expand imports and reform trade governance may signal China’s intent to stabilise relations with key partners, frictions with the US remain.
Live cattle futures dumped $4-5, feeder cattle down $7. USDA boxed beef mixed. Grain bulls back as China buys soybeans/wheat.
Cotton futures dip 40-53 pts; crude oil $60.38, USD index $100.055. Cocoa, coffee, grains rally on China buys & index inclusion.
Soybeans dip on deliveries, but China's buying & Bangladesh's $1.25B deal offer support. Watch yield data!
Corn futures dip 2-3 cents, cash price at $3.91 1/2. US yield steady at 185.5 bpa. China buys soybeans/wheat, grain bulls return.
Lean hog futures dipped $0.65-$1.30 as USDA hog price edged up. Pork cutout value fell $2.48, signaling potential downside.
Wheat futures mixed: soft red up 5-7 cents, HRW up 2-5 cents, spring wheat down 1-3 cents. China's interest fuels gains.
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