Soybeans slip further as doubts about Chinese buying puncture their rally

U.S. soybean futures edged lower on Friday at the end of a see-saw week during which Chinese purchases of U.S. beans pushed prices to a 17-month high before doubts about whether China would sustain so rapid a pace of buying punctured the rally. Corn and wheat futures also fell, with all three crops under pressure from ample supply. The most-active soybean contract on the Chicago Board of Trade (CBOT) was down 0.1% at $11.21-3/4 a bushel at 0446 GMT. The contract was set to end the week 0.2% lower after reaching $11.69-1/2 on Tuesday, its highest since June 2024. CBOT corn for March delivery fell 0.2% to $4.37 a bushel but was on track for a weekly loss of 1.6%. Wheat slipped 0.7% to $5.37-1/4 a bushel and was down 0.8% from last Friday’s close. Soybeans are still up more than 10% since mid-October and corn and wheat hit multi-month highs in recent days – the rallies driven by trade negotiations that have revived Chinese purchases of U.S. farm goods. The U.S. Department of ...