USA: Soybeans ease on Chinese demand concerns, wheat firms

Chicago soybean futures ticked down on Monday, giving up some of the last session’s gains on uncertainty about demand from top buyer China amid rising COVID-19 infections. Wheat rose for the first time in four sessions, although gains were limited by an extension of a grain export corridor for Ukrainian shipments. “The increase is COVID-19 cases in China is seen as a bearish demand factor for food and energy consumption,” Hightower said in a report. The most-active soybean contract on the Chicago Board of Trade (CBOT) lost 0.4% to $14.22 a bushel, as of 0357 GMT. Wheat added 0.2% to $8.23-3/4 a bushel and corn fell 0.3% to $6.65-1/2 a bushel. Growing worries about future demand from top global soybean importer China is weighing on the market. Rising COVID-19 cases are leading to fears of further lockdowns, which could curb demand for commodities. Beijing’s most populous district urged residents to stay at home on Monday, as the city’s COVID case numbers rose, while at least one ...