GRAINS-Soybeans slip on muted China demand; corn falls on record harvest outlook
BEIJING, Sept 15 (Reuters) - Chicago soybeans inched lower on Monday, snapping a two-session rally, as an absence of demand from China continued to pressure the market.
Corn also slipped on expectations of a record U.S. harvest, while wheat traded flat.
FUNDAMENTALS
* As of 0053 GMT, the most active soybean contract on the Chicago Board of Trade (CBOT) Sv1 fell 0.31% to $10.43 per bushel.
* Wheat Wv1 was little changed at $5.23-4/8 a bushel, while corn Cv1 eased 0.47% to $4.28 a bushel.
* U.S. farmers are missing out on billions of dollars in soybean sales to China halfway through their prime marketing season, as trade talks between the two countries drag on.
* China, the world's top soy buyer, has yet to buy any soybeans from the autumn U.S. harvest.
* The U.S. Department of Agriculture (USDA) on Friday pegged U.S. soybean yield at a slightly higher-than-expected 53.5 bushels per acre, compared with 53.6 bushels in August.
* For corn, the USDA raised its 2025 U.S. corn production estimate to a record 16.814 billion bushels from 16.742 billion bushels a month earlier.
* High levels of fungal disease in corn fields across the U.S. Midwest are threatening to reduce yields, growers and crop experts said.
* Abundant global wheat supplies continue to weigh on sentiment.
* Commodity funds were net buyers of CBOT corn, soy, wheat futures last Friday, traders said. COMFUND/CBT
MARKET NEWS
* Stocks got off to a quiet start in Asia on Monday ahead of an action-packed week that is seemingly certain to see the U.S. Federal Reserve resume its easing cycle, and perhaps leave the door wide open to a series of cuts. MKTS/GLOB
DATA/EVENTS (GMT)
0200 China Urban Investment (YTD)YY Aug
0200 China Retail Sales YY Aug
0200 China Unemp Rate Urban Area Aug
0900 EU Total Trade Balance SA Jul
1000 EU Reserve Assets Total Aug
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