Soybeans Lead Rally for Grain Futures Before Trump-Xi Phone Call

US grain futures rose across the board on Friday ahead of an expected phone call between President Donald Trump and his Chinese counterpart Xi Jinping, with traders hoping for a breakthrough in the long-running economic dispute between the two nations.

Soybean contracts for a November delivery rose by as much as 0.6%, while both corn and wheat futures also gained. Speaking in the UK on Thursday, Trump said the two sides were “pretty close” to a deal and that he might extend the November deadline for the tariff truce with China following the Xi call.

Still, in recent months, ...