GRAINS-CBOT soybeans edge lower on China demand uncertainty, Brazil harvest
BEIJING, March 4 (Reuters) - Chicago soybean futures edged lower on Wednesday, pressured by uncertain Chinese demand and the ongoing harvest in Brazil.
The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 lost 0.09% to $11.69-1/2 a bushel by 0400 GMT.
The Middle East conflict, meanwhile, provided some support for soy and grains in the previous trading sessions.
Markets are monitoring any revival in Chinese demand after Beijing met the 12 million-metric-ton soybean purchase target pledged to the White House, though traders remained sceptical amid high U.S. prices.
Top U.S. and Chinese trade negotiators are expected to meet in mid-March, signalling that plans for a summit between U.S. President Donald Trump and China's Xi Jinping remain on track despite U.S. strikes on Iran, Bloomberg News reported.
Meanwhile, CBOT wheat Wv1 rose 0.35% to $5.76 a bushel despite improving U.S. crop weather and ample global supplies.
Rain in the U.S. wheat belt has improved conditions, weighing on prices, though dryness in some areas remains a concern, analysts have said.
CBOT corn Cv1 rose 0.06% to $4.46-3/4 a bushel, supported by strong export demand.
The U.S. Department of Agriculture confirmed private sales of 196,000 metric tons of U.S. corn for shipment to unknown destinations in the 2025/26 marketing year.
Commodity funds were net sellers of CBOT corn, wheat and soy futures, traders said on Tuesday. CBOT/FUNDS
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