GRAINS-Soybean futures fall after Trump-Xi call; corn ends mixed

By Julie Ingwersen

CHICAGO, Sept 19 (Reuters) - U.S. soybean futures fell to their lowest in more than a week on Friday, erasing early gains after a phone call between U.S. President Donald Trump and Chinese President Xi Jinping failed to yield news on soybean exports, analysts said.

Wheat also declined while corn futures closed narrowly mixed.

For the week, soybean futures lost 2% and corn fell 1.4% as the harvest expanded in the heart of the Midwest, even as market players debated the size of this year's crops.

On the Chicago Board of Trade, November soybeans SX25 settled down 12 cents on Friday at $10.25-1/2 per bushel after hitting $10.24, the contract's lowest since September 11.

CBOT December corn finished 1/4 cent higher at $4.24 a bushel while December wheat WZ25 ended down 1-3/4 cents at $5.22-1/2 a bushel.

Soybeans rose early on hopes that the Trump-Xi talks could help end a freeze in soybean shipments between the two countries. China, by far the world's largest soy importer, has yet to book any of the current U.S. soybean crop and has instead turned to South American supplies.

The two leaders made progress during the call on a TikTok agreement and pledged to meet face to face in just over a month in South Korea, but there was little mention of agriculture. CBOT soybean futures turned lower after the call ended.

"The market had been hoping for a lot more positive outcome from these talks," said Ted Seifried, chief strategist for Zaner Ag Hedge. "It doesn't sound like (U.S.) soybean sales are going to be happening any time soon, and that is putting a fair amount of pressure on markets."

Harvesting is under way in the U.S. Midwest. Unusually warm temperatures this week are pushing crops toward maturity, the U.S. Department of Agriculture said in a daily weather note, with highs near 90 degrees Fahrenheit (32 Celsius) as far north as the Ohio River Valley.

Traders are monitoring early yield reports to gauge the impact of crop diseases and late-summer dryness that could prompt the USDA to lower its yield estimates next month.

Meanwhile, a rebound in the dollar =USD since a U.S. Federal Reserve interest rate cut on Wednesday also weighed on dollar-priced commodities. FRX/

Wheat futures were anchored by improving wheat harvest prospects in Australia and globally.

Looking ahead to 2026, S&P Global Commodity Insights projected that U.S. farmers would plant 94.5 million acres of corn, down 4.3% from this year, and 84 million acres of soybeans, up 3.6%, according to a report from the firm seen by Reuters.