GRAINS-Soybeans set for weekly gains on expectations of higher demand

By Naveen Thukral

SINGAPORE, April 25 (Reuters) - Chicago soybeans rose on Friday, with the market set to end the week on a positive note as hopes for higher non-Chinese demand and comments by U.S. officials on a possible de-escalation in the trade tensions with Beijing supported prices.

Wheat edged higher, although forecasts of improved weather in U.S. Plains limited the upside in prices, while corn firmed.

Japan is considering an increase in soybean imports from the United States as part of tariff negotiations, the Nikkei reported on Thursday, giving investors hope that demand from outside China might be on the rise.

"The EU's decision to delay retaliatory measures against the U.S. has alleviated concerns about a potential impact on demand for U.S. soybeans," according to a report from BMI, a unit of Fitch Solutions.

"Even before this delay, the EU had planned to postpone tariffs on soybeans until December 1, which eased fears, especially given the market's anticipation of no soybean trade between the U.S. and Mainland China."

The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 rose 0.4% to $10.66 a bushel, as of 0227 GMT, wheat Wv1 added 0.3% to $5.46-1/4 a bushel, and corn Cv1 rose 0.3% to $4.85-1/4 a bushel.

For the week, soybeans are up 2.8%, corn is down 1% and wheat has given up 2.8%.

U.S. President Donald Trump and U.S. Treasury Secretary Scott Bessent suggested this week that current tariffs could be lowered as part of negotiations with China.

However, China called for all "unilateral" U.S. tariffs to be cancelled on Thursday, clarifying it has not held trade talks with Washington despite repeated comments from the U.S. government.

Wheat prices remained pressured by rain in major production zones in the U.S. Plains, which provided some relief to the dry region. Wetter weather in the western Plains should limit stress and aid hard red winter wheat heading, according to forecaster Commodity Weather Group.

The European Commission on Thursday cut slightly its production forecast for the European Union's main wheat crop in 2025/26, but increased its stocks outlook as it saw more supplies left over from this season than previously anticipated.

Commodity funds were net buyers of CBOT corn, soybean and soyoil futures contracts on Thursday, traders said. Funds were net sellers of soymeal futures and net even in wheat futures, traders said. COMFUND/CBT