GRAINS-Soybeans rise for second session on Chinese demand, ample supplies cap gains

SINGAPORE, Jan 15 (Reuters) - Chicago soybean futures ticked higher on Thursday, supported by Chinese demand, although plentiful global supplies kept prices close to a near three-month low reached earlier this week.

Wheat and corn gained ground, having suffered losses in recent sessions.

FUNDAMENTALS

The most-active soybean contract Sv1 on the Chicago Board of Trade (CBOT) was up 0.2% at $10.44-1/4 per bushel, as of 0119 GMT, after dropping to its lowest since October 23 earlier this week.

Corn Cv1 gained 0.3% at $4.23-1/4 per bushel, having dropped to its weakest since October 16 on Tuesday, and wheat Wv1 rose 0.2% to $5.13-1/2 a bushel.

China, which has stepped up buying of U.S. soybeans, imported a record volume in 2025. The world's biggest buyer of the oilseed imported 111.83 million metric tons in 2025, an increase of 6.5% from a year earlier, according to customs data released on Wednesday.

Bulging grain and oilseed supplies limited gains in prices. The U.S. Department of Agriculture surprised grain markets on Monday by increasing its estimate to a record 2025 U.S. corn harvest, while also pegging U.S. quarterly stocks of the cereal at their largest ever.

In a series of crop reports, the agency also estimated the last U.S. soybean harvest was larger than many traders and analysts had expected. At the same time, it cut its U.S. export outlook and raised its estimate for Brazil's harvest.

In news, farm office FranceAgriMer on Wednesday cut its forecast for French soft wheat exports outside the European Union in 2025/26, to 7.50 million metric tons from 7.60 million tons expected last month, but still more than double the volume shipped in 2024/25.

MARKET NEWS

Technology and bank stocks led Wall Street indexes into a second day of declines on Wednesday, while oil prices snapped back from the day's highs after U.S. President Donald Trump softened warnings about unrest in Iran, although persistent economic and geopolitical uncertainty continued to support precious metals. MKTS/GLOB

DATA/EVENTS (GMT)

0700 UK GDP Est 3M/3M Nov

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1300 US Import Prices YY Nov

1330 US Initial Jobless Clm 5 Jan, w/e

1330 US Philly Fed Business Indx Jan