As of 12:43 p.m. CST (1843 GMT), Chicago Board of Trade March soyabeans were up 12 cents at $9.17 per bushel. March corn was up 5 cents at $3.77-3/4 a bushel while March wheat was up 1-1/4 cents at $5.19-1/2 a bushel. Traders noted broad strength in commodity and equity markets after US lawmakers reached a tentative deal to avoid another partial government shutdown, and on hopes of an agreement during the ongoing US-China trade talks.
CBOT March soyabeans dipped to $9.03-1/2 a bushel on Monday, the contract's lowest since Jan. 22, before rallying Tuesday and pushing through resistance at its 50- and 200-day moving averages. Top US officials arrived in the Chinese capital on Tuesday ahead of high-level trade talks. US President Donald Trump said that he could see letting the March 1 deadline slide a little, but that he would prefer not to and expects to meet with Chinese President Xi Jinping to close the deal at some point.
If the two sides cannot reach a deal by March 1, US tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent. China would likely respond by raising tariffs on $60 billion worth of US goods that it announced last year in retaliation.