GRAINS-Soybeans rise as China buys US supplies; wheat, corn edge higher
BEIJING, Jan 7 (Reuters) - Chicago soybean futures rose on Wednesday as continued Chinese purchases of U.S. supplies supported prices, though gains were capped by ample global supplies.
Wheat edged higher as traders monitored crop conditions across the U.S. Plains, while corn also posted modest gains.
FUNDAMENTALS
The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 rose 0.4% to $10.60-1/2 a bushel by 0127 GMT.
CBOT wheat Wv1 climbed 0.05% to $5.10-3/4 a bushel. Corn Cv1 rose 0.11% to $4.44-1/2 a bushel.
China's state stockpiler Sinograin bought 10 U.S. soybean cargoes this week, three traders told Reuters on Tuesday, as the world's top buyer continues purchasing from the United States following a late October trade truce.
The U.S. Department of Agriculture (USDA) said exporters sold 136,000 metric tons of soybeans to China for 2025/2026 delivery.
Condition ratings for winter wheat declined during December in Kansas, the top U.S. winter wheat producer, and in several other Plains states, data released by the USDA showed on Tuesday.
In Ukraine, a major wheat exporter, December weather was favourable for winter grain crops, Ukraine's Academy of Science said.
On January 12, the USDA is slated to issue reports on U.S. crop production and grain stocks as of December 1.
Commodity funds were net sellers of CBOT soybeans and soyoil. CBOT/FUNDS
MARKET NEWS
Major stock indexes including the Dow Jones Industrial Average and European shares rose to record highs on Tuesday, while the dollar edged higher as investors focused on key market data this week that could help gauge the outlook for Federal Reserve policy. MKTS/GLOB
DATA/EVENTS (GMT)
0855 Germany Unemployment Chg SA Dec
0855 Germany Unemployment rate SA Dec
0930 UK S&P GLOBAL PMI: MSC COMPOSITE - OUTPUT Dec
1000 EU HCIP Flash YY Dec
1000 EU HICP-X F,E,A&T Flash YY Dec
1000 EU HCIP-X F, E, A, T Flash MM Dec
1500 US Factory Orders MM Oct
1500 US ISM N-Mfg PMI Dec
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