GRAINS-Chicago soy, corn head for weekly losses on US harvest pressure

BEIJING, Sept 19 (Reuters) - Chicago soybean and corn futures rose on Friday but remained on track for weekly losses due to U.S. harvest pressure, while traders monitored progress in U.S.-China trade discussions.

Wheat edged higher and was set for a second consecutive weekly gain, supported by brisk export demand, although ample global supply continued to weigh on the market.

FUNDAMENTALS

As of 0055 GMT, the most active soybean contract on the Chicago Board of Trade (CBOT) Sv1 was up 0.46% at $10.42-1/4 per bushel after two consecutive sessions of losses.

Corn Cv1 gained 0.47% to $4.25-3/4 a bushel, while wheat Wv1 added 0.29% to $5.25-3/4 a bushel.

Top soy buyer China has not booked any U.S. soybeans from the autumn harvest due to high tariffs. Traders are watching for a call later in the day between U.S. President Donald Trump and his Chinese counterpart Xi Jinping for signs of progress toward resuming soybean trade.

In Brazil, crop agency Conab projected the South American country's 2025/26 soybean harvest at a record 177.67 million metric tons in 2026, up 3.6% from the previous year.

U.S. producers are actively harvesting across much of the corn belt this week, with only scattered rain delays.

The U.S. Department of Agriculture reported net weekly export sales of corn totalling 1,231,000 tons for the week ended September 11.

Wheat remained under pressure from abundant global supplies. The International Grains Council raised its forecast for 2025/26 global wheat production by 8 million metric tons, to 819 million tons.

Weekly U.S. wheat export sales totalled 377,500 metric tons, at the low end of a range of trade expectations.

Commodity funds were net sellers of CBOT corn and soybean futures on Thursday, traders said. COMFUND/CBT

MARKET NEWS

World equity markets reached a new peak on Thursday, powered by a continuing bull run on Wall Street, while the U.S. dollar rose against major peers on news that fewer Americans filed new applications for unemployment benefits last week. MKTS/GLOB

DATA/EVENTS (GMT)

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