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Funds covering shorts on positive charts, waiting on China to cut tariffs and buy U.S. farm goods.
After the Bell: Soybeans, Grains Pare Early Strong Gains By the Close on China Trade Truce Skepticism
Ag markets give back early gains amid few details about whether China will cut tariffs during 90-day truce.
China and U.S. officials talk positive on trade ahead of weekend meeting.
Optimism for U.S./China trade truce triggers fund short covering across grain markets.
Chief U.S. economic advisor Larry Kudlow said at midday today Trump is hopeful a deal can be reached this weekend, but added significant hurdles need to be cleared for such to occur.
Corn follows soybeans lower on beneficial South America weather.
Market focus next week will be on White House and Beijing comments ahead of meeting between Presidents Trump and Xi Dec. 1.
Small gains for corn, soybean export sales but more needed to support markets.
Markets are holding support with U.S. harvest delays and less pessimism on U.S./China trade talks.