GRAINS-Chicago soybean futures rise as Trump plans May visit to China

BEIJING, March 26 (Reuters) - Chicago soybeans inched higher on Thursday as U.S. President Donald Trump's plan to meet Chinese President Xi Jinping in May raised hopes of firmer Chinese demand for U.S. beans.

Wheat gained, while corn edged lower.

FUNDAMENTALS

The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 was up 0.2% at $11.73-3/4 a bushel, as of 0255 GMT. CBOT wheat Wv1 gained 0.2% to $5.98-3/4 a bushel. Corn Cv1 fell 0.1% to $4.67 a bushel.

Initially slated to travel next week, Trump will now visit Beijing on May 14 and 15, he said in a Truth Social post on Wednesday. Trump said he would host Xi for a reciprocal visit in Washington later this year.

The meeting raises hopes for continued China buying of U.S. soybeans.

China, the world's largest soybean importer, is projected to buy 108 million metric tons of U.S. soybeans in 2026, up 2 million tons from last year, the U.S. Department of Agriculture said last week.

Reports of a 15-point U.S. plan to end the war in Iran following Trump's comments this week about talks with Tehran also fuelled investor hopes for a de-escalation in the Middle East conflict.

Ample global supplies limited gains in grain prices.

In Brazil, the world's largest soybean producer and exporter, farmers are expected to harvest 184.7 million tons of soybeans in the 2025/2026 season, agribusiness consultancy Agroconsult said on Wednesday, raising its early-March estimate by 0.9% after completing its Rally da Safra field survey.

Brazil's soybean planting area is expected to remain stable in the upcoming 2026/27 season, but the scenario depends heavily on how long the U.S.-Israeli war on Iran lasts, Agroconsult said.

MARKETS

Oil prices climbed on Thursday, recovering some of the previous day's losses as investors reexamined prospects for de-escalation in the Middle East as Iran said it was still reviewing a U.S. proposal to end the war, which has disrupted energy flows. O/R

DATA/EVENTS (GMT)

0745 France Business Climate Mfg Mar

0745 France Business Climate Overall Mar

1230 US Initial Jobless Clm 21 Mar, w/e